RECENT ECONOMIC
DEVELOPMENT IN
AUTOMOBILE SECTOR
Created by Aldenaire & Partners
Market Trends
Sales Growth
13% YoY increase in passenger vehicle sales.
Recovery in two-wheeler market post-COVID-19.
Notable increase in online vehicle sales.
Consumer Shifts
Rising demand for SUVs (over 40% market
share).
Increased interest in smart and connected
vehicles.
Growth in demand for features like advanced
infotainment systems and safety technologies.
Government
Initiatives
FAME India Scheme
Financial incentives for electric and hybrid vehicles.
Target of 1 million electric vehicles by 2024.
Subsidies on EV charging infrastructure development.
GST Implementation
Streamlined tax structure reducing costs for consumers
and manufacturers.
Lower tax rates for EVs encouraging consumer adoption.
National Electric Mobility Mission
Focus on promoting sustainable transportation solutions.
Support for R&D in battery technology and sustainable
fuels.
Electric Vehicles (EVs)
Market Expansion
EV sales grew by 200% in 2022.
Key manufacturers: Tata Motors, Mahindra, Hyundai.
Growth in fleet electrification initiatives by logistics companies.
Technological Advances
Improved lithium-ion battery technology leading to longer
ranges.
Expansion of charging infrastructure (10,000+ charging
stations).
Development of battery swapping technology.
Challenges
Limited range and charging infrastructure.
Higher initial costs compared to conventional vehicles.
Need for consumer awareness and education regarding EV
benefits.
Technological
Innovations
Connected Vehicle Technology
IoT integration for real-time data sharing and vehicle
diagnostics.
Enhanced safety features, including automatic braking
and lane-keeping assist.
Autonomous Driving
Pilot projects for Level 4 autonomy in urban settings.
Collaborations with tech firms for research and
development.
Sustainability Initiatives
Adoption of renewable energy in manufacturing
processes (solar, wind).
Investments in biofuels and hydrogen fuel cells.
CONSUMER PREFERENCE AND
MARKET SHIFTS
ECONOMIC IMPACT OF THE
SHIFT TO ELECTRIC VEHICLES
FUTURE OUTLOOK OF THE
AUTOMOBILE INDUSTRY
THANK
YOU
