The 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 recent times, there’s been a tremendous rise in the poshest and swankiest cars on the roads. Global automobile giants like Volvo, General Motors, and Ford have ventured into the Indian auto markets.
Today, the Indian Auto Industry is the tenth-largest in the world, with an annual production of approximately 2 million units. It is predicted that India will become one of the major automobile industries in the world in the coming years. The liberalization policy in the 1990s and tax reliefs by the Government of India had a major impact on the Indian Automobile Industry. As a result, the Indian auto industry is growing at around 18 % per annum.
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Interesting Facts:
- Hindustan Motors is the oldest car manufacturer in India. It is best known for the Ambassador, who has remained unchanged for over 30 years.
- India’s passenger car and motorcycle segment is growing by 8-9 percent.
- Commercial vehicles will grow by 5.2 percent.
- Sports utility vehicles (SUVs) in the Indian market will increase in the coming years.
- The auto sector in India is the sourcing base for global auto majors.
- Motorcycles will see an 11.5 percent rise in the two-wheelers segment compared to scooters and mopeds.
- The market for commercial and heavy commercial vehicles, including buses, trucks, and tractors, will grow by 5.2 percent.
The phenomenal growth of the Indian 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,” the Maruti 800, which has ruled Indian roads for over two decades.
Tata Motors, first known as Telc, is the third-largest car producer in India after Maruti and Hyundai. The auto giant is also the fifth largest medium and heavy commercial vehicle manufacturer in the world. Mahindra & Mahindra started with a first batch of 75 utility vehicles (UVs) in 1947. Today, M&M Manufactures jeeps, agricultural equipment, and light trucks. Ford Motors entered India in 1995 in collaboration with Mahindra & Mahindr5. Their first model was Escort.
Honda Siel Cars entered the Indian automobile market in 1995 and sold four 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. Several car dealers in India facilitate the buyer’s acquisition of the vehicle. Car dealers sell cars of various brands. They are involved in the retailing of motor vehicles and even have a service parts department. Car dealers also provide service for the vehicles even after the sale.
India is the fastest-growing automobile market. There has been a marked technological change and process that has led to unparalleled growth. Automobile AAmberis is an experienced education and entertainment consultant who has been in the industry for several years. He has also written several articles on entertainment. For more Details about New Cars, Automobiles, and Bikes in India, please log on to Automobile.
