Indian Automobile Industry

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.

Interesting Facts: 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.