ABOUT AUTOMOBILE INDUSTRY
Automobile is a self- parallel vehicle that travels on
land.
Automobile industry includes passenger cars, trucks,
farm equipment and other commercial vehicles.
In 2020, India was the fifth – largest auto market,
with 3.49 million units combined sold in the
passenger and commercial vehicles categories.
India in one of the largest in the world and one of
the fastest growing globally.
AUTOMOBILE INDUSTRY IN INDIA
• India accomplished a
• India enjoys a strong significant milestone with
position in the global heavy • In financial year 2023, Total the sale of 13,25,112 EV’s
vehicle market as it is the automobile exports in India in financial year 2024.
largest tractor producer, stood at 47,61,487. The
second – largest bus Sector ‘s share of the • The electronic vehicle
manufacturer, and third national GDP increased market is estimated to
largest heavy truck from 2.77% in 1992 -1993 to reach US$ 7.09 billion in
manufacturer in the world. around 7.1% presently . India by 2025. A study of
CEEW centre for energy
• India’s annual production • In the third quarter of 2023- finance recognised a
of automobile in financial 2024,total production of US$ 206 billion
year 2022 was 25.9 million passenger vehicle’s, opportunity for electronic
vehicle’s. India has a strong commercial vehicle’s, three vehicle’s in India by 2030.
market in terms of domestic vehicle’s, two wheelers and This will necessitate a US$
demand and exports. quadricycle was 7.13 million 180 billion investment in
units. vehicle manufacturing
and charging
infrastructure.
The
automotive
market is
Split into
four
segments
Major player’s in Automobile Industry
In Quadricycle and
Tricycle motor
In Two wheeler
In Four wheeler
INVESTMENTS
To keep up with the growing demand, several
automakers have started investing heavily in various
segments of the industry during the last few months. The
automobile sector received a cumulative equity FDI
inflow of about US$ 35.65 billion between April 2000 –
December 2023 . India is on track to become the
largest electronic vehicle market by 2030, with a total
investment opportunity of more than US$ 200 billion over
the next eight to nine years.
SOME OF RECENT/PLANNED INVESTMENTS AND
DEVELOPMENT IN THE AUTOMOBILE SECTOR IN INDIA
In February 2024,
In March 2024, Tata In April 2024, In February 2024, Klaus Zellmer CEO of
motors group has Maruti Suzuki Hyundai Motor has Skoda Auto said
signed a facilitation
memorandum of India limited, announced that it will India is the most
invest over US$ 3.85 promising growth
understanding with commissioned market for Skoda
billion from 2023 to
government of Tamil another vehicle 2033 in expanding it’s Auto and Skoda
Nadu to explore
setting up a vehicle
assembly line at EV range and Auto is looking to
it’s Manesar enhancing it’s current increase it’s share in
manufacturing facility
car and SUV platform. an Indian market to
in the state . facility 5% by 2030
In January 2024, In January 2024,
On January 2024, In April 2024, Hero BMW sold 1,340 at the vibrant
Mercedes – Benz is Motocorp said it has luxury cars, the Gujarat Global
set to invest US$ 24.04 opened an assembly Highest in the summit, Maruti
million in India in 2024 facility in Nepal in segment, which
partnership with it’s Suzuki
and is gearing up to gave it a market
distributer CG Motors announced the
introduce more than share of 0.34%.
a dozen new car’s, with capacity of investment plans
including EV’s this 75000 units per Mercedes Benz in Gujarat with a
year. annum. sold, 1,333cars in new Greenfield
January 2024 plant.
