The reason behind the immense growth of the
India Car Industry can be attributed to the availability of car loans, affordable rates of interest, smooth repayment facilities and the deductions offered to the customers by the retailers.
The constant changes in the existing car models with regard to design, innovation, technology, and colors, have led to a fiercely competitive market. Now that technology and innovation are not alien concepts for Indian car makers, Indian cars are becoming increasingly sleek, stylish, and luxurious.
Major players in the Indian Car Industry:
Fierce competition among the major car players can be witnessed in the Indian Car industry. The India car industry is being dominated by the following major players:
Car Manufacturers In India
The latest developments in the car market in India:
In Nashik, a car manufacture plant has been established as a result of a joint venture of Renault and Mahindra & Mahindra to manufacture a comparatively cheap cars (at US$ 9,700), mainly targeting the Indian middle classes, the youth, and the affluent classes in rural India. Tata Motors has plans to launch a luxury car with an engine of 33 horsepower. The recent reduction in the excise duty of the small cars from 24% to 16% will definitely prove to be a boon for the India car industry.
Technical advancements in the Indian Car Industry:
The latest technical advancements in the car market in India include the following features
- Power Steering
- Radial Tires
- Anti-lock Breaking Systems
- Tip-tronic Transmission
The varied car markets in India:
The market for small cars now occupies a substantial share of 70% out of the annual production of 1 million cars in India. Maruti Udyog, with its legendary Maruti -800 is the leader in the small car market. A number of manufacturing plants are coming up for advancements in the field of small cars. The recent launches in the small car market in India are:
- Getz Prime by Hyundai Motor Co.
- Tata Magic by Tata Motors Tata Magic
- Palio Stile byFiat India Pvt. Ltd
Mid-sized cars are normally cars ranging from Rs. 3-8 lakh and generally meant to be 4 seaters. The mid-sized car section has recently moved beyond the 1 lakh target. The recent launches in the mid-size car market in India are:
- 1.4 SXI Duratorq by Ford Motor Co.
- Indigo XL by Tata Motors
Luxury cars and premium cars are quite expensive and they are purchased for their design, innovation, and technology. They are usually priced over Rs. 20 lakh and have many takers in India. The recent launches in the premium car market in India and the luxury car market in India are:
- Sonata Embera H-Matic by Hyundai Motor Co.
- Nissan Teana by Nissan Motor Co. Ltd
Sports Utility Vehicles (SUVs) have also become very popular in India as they are considered advantageous due to their ability to accommodate more passengers. They are ideal for trips with the whole family. The Sport Utility Vehicle market in India is the most booming market in India presently and SUVs have become the fastest selling cars of India.
For more information on the
India Car Industry, please search through the following links:
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Manufacturing Company | Car Rental Company | Apollo Tyers | Oriental Insurance Company | India Real Estate | Car Accessories | Car Insurance
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