Prof. Parag Amin
Prof. Sunil Deshpande
Current Scenario: Automobile Sector
Touted to be the 11th largest market in the passenger car segment, the Indian automotive industry is expected to grab the 7th place in global rankings by 2016. With an annual production of 9.7 million units, the industry is ranked as the 10th largest auto industry in the world and is expected to account for 10.6% of India’s GDP by 2016. Clocking 12 million units’ sales in 2009, India leads the production of two wheelers. However, its passenger car segment is also catching up. In May 2010, passenger car segment recorded sales of 1,90,575 units.
The automobile industry had a growth of 15.4 % during April-January 2007, with the average annual growth of 10-15% over the last decade or so. With the incremental investment of $35-40 billion, the growth is expected to double in the next 10 years. With rise in disposable incomes, easier financing options and favourable policies being charted out by Indian government, buying a car has become easier and consequently the demand for passenger vehicles is high.
An Overview of the Indian Automobile Industry
Starting its journey from the day when the first car rolled on the streets of Mumbai in 1898, the Indian automobile industry has demonstrated a phenomenal growth to this day. Today, the Indian automobile industry presents a galaxy of varieties and models meeting all possible expectations and globally established industry standards. Some of the leading names echoing in the Indian automobile industry include Maruti Suzuki, Tata Motors, Mahindra and Mahindra, Hyundai Motors, Hero Honda and Hindustan Motors in addition to a number of others.
During the early stages of its development, Indian automobile industry heavily depended on foreign technologies. However, over the... [continues]
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