Essay On Automobile Industry
Automobile industry is the business which involves production and selling of self-powered vehicles including passenger cars, trucks, farm equipment, and other commercial vehicles. The automobile industry has helped many people to involve in work, shopping and entertainment. This industry has also encouraged the development of roadways that made possible the growth of suburbs and shopping centers around major cities. It is also playing a key role in the growth of ancillary industries, such as the oil and travel businesses. The auto industry has become one of the largest purchasers of many key industrial products, such as steel. THE AUTOMOTIVES MARKET IS SPLIT INTO FOUR SEGMENT Before independence, the Indian market was reserved for imported vehicles which …show more content…
Substitute products for industries are: – CAB ,Bus, AC bus and other public transports. Reasons for choosing substitutes Relative quality of substitutes is higher. – Threat of substitute is High. RIVALRY AMONG COMPETITORS The competition has turned more intense after the entry of foreign players like Volkswagen and Ford in low- priced hatchback segment Foreign firms have aggravated the competition by changing their traditional designs and substituting it to cater Indian needs BARGAINING POWER OF SUPPLIERS Since they change their model on going basis they create good relationship between their suppliers. Some of the components in 4 and 6 wheeler industry sellers have bargaining power: Bargaining power of suppliers is low as most of the auto component manufacturers are specialized in some segments related to only one client Suppliers, in turn depend on them BARGAINING POWER OF BUYERS There are 5 to 6 big popular brands are available. In a market, like India there is lot of bargaining power available to the customers as there are variety of products available in the same range, by different manufacturers It still depends on the
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