AUTOMOTIVE SECTOR OVERVIEW
Statistics, news & updates: everything you need to know about the Automotive Industry in India
updated in May 2017
The Indian Automobile Industry is the 6th largest manufacturer in the world and a key sector for economic growth contributing to 49% of the country’s manufacturing GDP. The demand for private vehicles doesn’t seem to slow down with a growing working population, expanding middle class and increasing disposable income, thus more people are able to afford a car and to whom a car is still a desire, public transport systems are emerging and improving in major cities. India already is a manufacturing destination for most global automobile companies. This attracts many Foreign Direct Investments to India, as well as supports local supplying companies. Current trends and needs like developing green technologies for vehicles are also impacting the industry in India. Indian Government wants to make India a global Automotive manufacturing hub and is increasing focus on environmental friendly vehicles like hybrid and electric vehicles. The Automotive Mission Plan (AMP) of the Indian Government wants to put the Auto industry in the league of the Top 3 countries in Engineering, manufacturing, and export of vehicles and automobile components. The ‘Make in India’ campaign is a major success for the Auto industry and now the Government is also supporting R&D activities in the sector. Additionally, companies can find a large pool of inexpensive, skilled workforce for this industry in India, which opens opportunities for companies wanting to enter the Indian market.
Please see our latest Automotive Industry News here!
- 30% Clients of M+V serve the Automotive Industry
- M+V manages an Throughput of USD 13 Million
- 5000 SKU`s are managed by M+V
- M+V is approved Supplier of 225 Customers
- Ever-growing demand for automobiles
- Expected to be 3rd largest Automotive manufacturer worldwide by 2020
- Passenger vehicle market forecasted to grow at a CAGR of 18%, and commercial vehicles at a CAGR of 19% from 2014-2021
- Six million-plus hybrid and electric vehicles projected to be sold annually, by 2020
- Vehicle sales are expected to touch 66 million units by 2026
- 31% of small cars sold worldwide are manufactured in India
Key Players in India
- Mercedes-Benz, BMW, Hyundai, Renault-Nissan, Mitsubishi, Suzuki, VW, Honda, Ford, Toyota, GM, Yamaha, Piaggio, Audi
- Tata (Jaguar), Bajaj Auto, Mahindra&Mahindra, Hero Motors, Force Motors, TVS Motors, Eicher Motors, Maruti Suzuki
- Automobiles and auto components contribute 7.1% and 2.3% respectively to the country’s GDP
- India is the largest tractor manufacturer, second largest two-wheeler and bus manufacturer, fifth largest heavy truck manufacturer, sixth largest car manufacturer, and eighth largest commercial vehicle manufacturer in the world.
- FDI inflow from April 2000 to December 2016 accounted at $16.5 billion
- India is exporting more than 3.5 million vehicles annually