Leadership Change at Skoda Auto VW India as CFO Nalin Jain Exits

Nalin Jain, Executive Director – Finance & IT at Škoda Auto Volkswagen India Pvt Ltd (SAVWIPL), is set to step down from his role, Autocar Professional learns. His departure will mark the exit of a key board member from the Group’s India operations.

Jain rejoined the Volkswagen Group in August 2022, having previously served in senior positions at General Motors and Mahindra & Mahindra. At SAVWIPL, he was responsible for financial governance, business planning, capital allocation, and IT integration across India's Škoda, Volkswagen, Audi, Porsche, and Lamborghini brands.

In a related development, Sarma Chillara, Head of Human Resources, has also left the company. His portfolio has been taken over by Stepan Lacina, an experienced hand from Skoda Auto headquarters. According to people familiar with the matter, Lacina’s appointment is aimed at reinforcing the importance of the Indian subsidiary within the Group’s global structure. The company is also understood to be looking at experienced senior professionals for the now-vacant Finance & IT role, underlining the importance of continuity and strong governance during a phase of significant investment and transformation.

During Jain’s tenure, the company reported revenue growth supported by new model launches, higher localisation levels, and an expanding export footprint. He was part of the top management that approved fresh funds for upcoming products and aligned financial resources with manufacturing expansion, future vehicle architecture, and the transition to cleaner powertrains.

Between FY22 and FY24, Škoda Auto Volkswagen India moved from a phase of recovery and momentum to growth tempered by profitability pressures. The initial volume surge from the India 2.0 programme and new model launches delivered substantial topline gains. Still, rising input costs, heavy investment in localisation, and an intense competitive environment eroded margin. The operating gains seen in FY23 proved difficult to sustain in FY24, as higher marketing expenses, supply chain costs, and the transition towards cleaner powertrain readiness weighed on earnings. While the period reinforced the company’s ability to scale revenues and expand market presence, it also underlined the challenge of translating that growth into consistent, healthy margins in a market where pricing power is limited and cost structures are in flux.

SAVWIPL has already prepared for the next phase of investment, which will fund the development of new vehicle architectures to meet future regulatory requirements and support the Group’s electrification strategy for the Indian market. This next phase, under the IMP21 platform, aims to deliver a balanced portfolio of EVs, hybrids, and efficient internal combustion engine models to address the growing demand for cleaner mobility alternatives in India.

Responding to queries from Autocar Professional on the leadership changes, a Škoda Auto Volkswagen India spokesperson said:

“The personal changes in the leadership of SAVWIPL correspond with standard company HR processes. Please understand that we will not be providing any further comments.”