Automobile Market in India
Besides a steady growth in India's fiscal system, the expansion of Indian middle class has also played a major role in drawing the attention of international auto manufacturers towards the Indian Automobile Market. Moreover, India is one nation which provides skilled workforce at cutthroat prices making itself a preferable manufacturing centre.
As per a recent research conducted by Deloitte, 2020 will witness the emergence of at least one Indian auto firm that would not only feature among the best six car manufacturers but would also dominate the international auto sector. Moreover, the global car sector would witness an enormous competence building in low-priced nations like India and China as most of the producers would alter base from industrial regions.
Domestic Automobile Market
As per statistics launched by Society of Indian Automobile Manufacturers (SIAM), the passenger car transactions in domestic market have surged to 145,905 units in January 2010 against the 2009 sales of 110,300 units. This indirectly refers to the 32.28% growth in the domestic car sales. In January 2010, the total sales of automobiles grew to 1,114,156 units as compared to the previous fiscal year's 768,698 units sales.
Segments of Indian Automobile Market
Two-wheeler automobile segment
In this segment, motorcycles accounts for major Indian Automobile market share. The chief players in this segment is Hero Honda which delivers 50% motorbikes to the Indian market besides sharing 46% in scooter market and TVS for 82% in moped market.
Three-wheeler automobile segment
Around 41% of the three-wheelers in India are utilized for merchandise transfer purpose. In this segment Piaggio and Bajaj are the leading players with 40% and 68% of market share respectively.
Accounting to 79%, Cars rule the passenger automobile in India. The chief players in this segment are Maruti Suzuki and Mahindra. While Maruti Suzuki enjoys full-fledged monopoly in multi-purpose automobiles sector with 52% of market share, Mahindra have 42% market share in utility vehicles. However in the area of commercial automobiles, Tata Motors rule the Automobile Industry of India with 60% of market share besides being the fifth biggest producer in the world of medium & heavy marketable vehicles.
Facts about Various Segments of Indian Automobile Market
- Within the two-wheelers segment, motorcycles accounts for 80% of the sector volume.
- Cars rule the Indian passenger automobiles with 79% of market share
- More than half of the auto parts output is consumed by OEMs.
- India stands at the first rank in three-wheeler and two-wheeler markets, second in tractor segment, fifth in commercial vehicles and first in motorcycle manufacturing
- In the entire Asia, India stands at the fourth position of car manufacturers by superseding the benchmark of 1 million sales.
Future of Indian Automobile Market
In the financial year 2010, Automobile Industry of India is expected to witness a 10 to 12% of massive growth in its vehicles sales.
As per a research conducted by Indian Auto Sector Outlook, rivalry in the nation's Automobile sector is anticipated to grow due to escalating influx of international original equipment manufacturers (OEM).
Last Updated on 4/18/2015