Automobile Industry in India has come a long way. There was a time when only a handful of cars like Maruti and Fiat ruled the roads. In the recent times, there’s a tremendous rise in the posh and swankiest cars on the roads. Global automobile giants like Volvo, General Motors and Ford have ventured the Indian auto markets.
Today, the Indian Auto Industry is the tenth largest in the world. It has an annual production of approximately 2 million units. It is predicted that in the coming years, India will become one of the major automobile industries in the world. The liberalization policy in 1990s and tax reliefs by the Govt. of India had a major impact on the Indian Automobile Industry. Indian auto industry is currently growing at the pace of around 18 % per annum.
Hindustan Motors was the oldest car manufacturers in India. It is best known for the Ambassador which hasn’t changed for more than 30 years.
The passenger car and motorcycle segment in India is growing by 8-9 percent.
Commercial vehicle will grow by 5.2 percent.
Sports Utility Vehicle (SUV) in the Indian market will increase in the coming years.
Auto sector in India is the sourcing base for global auto majors.
In the two-wheelers segment, the motorcycles will see the 11.5 percent rise, as compare to scooters and mopeds.
Commercial vehicles and heavy commercial vehicles market including buses, trucks and tractors will grow by 5.2 percent.
Phenomenal growth of India Automobile Industry
There’s no doubt that the auto industry in India is a lucrative market. From Korean to American to Japanese- auto majors are queuing to launch their luxury cars, SUVs and MUVs and gain the maximum share.
Maruti Udyog was formed as a partnership between the Government of India and Suzuki of Japan. They launched India’s first “affordable car” Maruti 800 which has ruled the Indian roads for more than two decades.
Tata Motors, as first known as Telco. It is the third largest car producer in India after Maruti and Hyundai. Auto giant is also the fifth largest medium and heavy commercial vehicle manufacturer in the world.
Mahindra & Mahindra started off with a first batch of 75 utility vehicles (UVs) in 1947. Today, M&M is manufacturing jeeps, agricultural equipments and light trucks. Ford Motors entered India in collaboration with Mahindra & Mahindra in 1995. Their first model was Escort.
Honda Siel Cars entered the Indian automobile market in the year 1995 and sells 4 cars – the City, Accord, Civic and CR-V. Hyundai Motors holds second place behind the market leader Maruti Suzuki in the Indian automobile market. Hyundai Santro is the most popular car by the auto giants. To facilitate the buyers to acquire the car, there are a number of car dealers in India. Car dealers sell cars of various brands. They are involved in the retailing of motor vehicles and even have service parts department. Car dealers also provide service for the vehicles even after the sale.
India is the fastest growing automobile markets. There has been a marked technological changes and process which has led to the unparalleled growth.