Emerging Trends In Automobile Industry

I. Introduction Automobile industry globally and in India is one of the key sector to economy. The well-developed Indian automotive industry produces a wide variety of vehicles, passenger cars, light medium and heavy commercial vehicle multi utility vehicles such as jeeps, scooters, motorcycle, mopeds, three wheelers, tractors and other agricultural equipment etc. India is emerging as one of the world’s fastest growing passenger car markets and second largest two-wheeler manufacturer. It is also home to the largest motorcycle manufacturer and the fifth largest commercial vehicle manufacturer. The industry currently accounts for almost 7% of the country’s GDP and employs about 19 Million people both directly and indirectly. It’s

Emerging Trends of Automobile Industry In India the auto industry is one of the largest industries and is one of the key sectors of the economy. Today, India is emerging as one of the world’s fastest growing passenger car markets and second largest two-wheeler manufacturer. The emerging trends in the Indian Automobile Industry are:

1. Globalization- Globalization is forcing Indian auto majors to consolidate, upgrade technology, access new markets, enlarge product range and cut costs.

2. Export hub for Small Utility vehicles- India is emerging as an export hub for sports utility vehicles. The global automobile majors are looking to leverage India’s cost-competitive manufacturing practices and are assessing opportunities to export SUVs to Europe, South Africa and Southeast Asia. India can emerge as a supply hub to feed the world demand for SUVs.

3. Export of Compact cars to Europe- India has the largest base to export compact cars to Europe. Hybrid and electronic vehicles are new developments in the auto industry and India is a key market for

Commercial vehicles are also shows increasing trends from 2009-2010 i.e. 5,67,556 to 8,32,649 in 2012-2013.Three wheelers has been increased from 2009-10 to 2012-13 but during 2013-14 it’s decreased due to lack of economic development and again in 2014-15 production has been increased to 9,49,021 respectively. And in case of Two Wheelers it maintains the increasing trends from 2009-2010 i.e.1,05,12,903 to 1,84,99,970 in 2013-2014.The industry produced a total of 23,366,246 vehicles including passenger vehicles, commercial vehicles, three wheelers and two wheelers in April-March 2015 as against 21,500,165 in April-March 2014, registering a growth of 8.68 percent over the same period last