Automobile Sector in India
AUTOMOBILE INDUSTRY IN INDIA: CURRENT TRENDS.
By: Apoorva Kumar S Y ‘B’ Roll no- 2069
Automobile industry in India: Current Trends
The Automobile industry in India is one of the largest in the world and one of the fastest growing globally. India manufactures over 17.5 million vehicles (including 2 wheeled and 4 wheeled) and exports about 2.33 million every year. It is the world 's second largest manufacturer of motorcycles, with annual sales exceeding 8.5 million in 2009. India 's passenger car and commercial vehicle manufacturing industry is the seventh, with an annual production of more than 3.7 million units in 2010. According to recent reports, India is set to overtake Brazil to become the sixth largest passenger vehicle producer in the world, growing 16-18 per cent to sell around three million units in the course of 2011-12. In 2009, India emerged as Asia 's fourth largest exporter of passenger cars, behind Japan, South Korea, and Thailand.
We are all well aware of the fact that, for decades the Indian automobile industry was way behind some of the most influential economies in the world like USA and Japan. The Indian automobile industry, though in its nascent stage, is expected to set the ball rolling in the Indian Economy as well. Coming to the automotive trends, today, the Indian automobile industry is one of the most vibrant, modern and upbeat automobile markets in the world. It is also the second largest two-wheeler market in the global map. With the emergence of the financially sound middle class, the four-wheeler segment is set for tremendous growth and one can expect of more impetus to the economy from this sector. No wonder then that this industry has become the centre of attraction for most of the global automotive giants the world over.
The factors playing a key role in the Indian automobile industry trends are as follows:
Government: Unlike in the past, the Indian Government has
By: Apoorva Kumar S Y ‘B’ Roll no- 2069
Automobile industry in India: Current Trends
The Automobile industry in India is one of the largest in the world and one of the fastest growing globally. India manufactures over 17.5 million vehicles (including 2 wheeled and 4 wheeled) and exports about 2.33 million every year. It is the world 's second largest manufacturer of motorcycles, with annual sales exceeding 8.5 million in 2009. India 's passenger car and commercial vehicle manufacturing industry is the seventh, with an annual production of more than 3.7 million units in 2010. According to recent reports, India is set to overtake Brazil to become the sixth largest passenger vehicle producer in the world, growing 16-18 per cent to sell around three million units in the course of 2011-12. In 2009, India emerged as Asia 's fourth largest exporter of passenger cars, behind Japan, South Korea, and Thailand.
We are all well aware of the fact that, for decades the Indian automobile industry was way behind some of the most influential economies in the world like USA and Japan. The Indian automobile industry, though in its nascent stage, is expected to set the ball rolling in the Indian Economy as well. Coming to the automotive trends, today, the Indian automobile industry is one of the most vibrant, modern and upbeat automobile markets in the world. It is also the second largest two-wheeler market in the global map. With the emergence of the financially sound middle class, the four-wheeler segment is set for tremendous growth and one can expect of more impetus to the economy from this sector. No wonder then that this industry has become the centre of attraction for most of the global automotive giants the world over.
The factors playing a key role in the Indian automobile industry trends are as follows:
Government: Unlike in the past, the Indian Government has
References: - Wikipedia Rcnos.com Managementparadise.com www.carazoo.com siamindia.com automobileindia.com