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last activity : 07 06 2010 20:18:04 +0000
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The Indian automotive industry has the potential to emerge as one of the largest in the world. The country already ranks number two globally in the two-wheeler segment, and is next only to China. It ranks 11th in car production and 13th in commercial vehicle production globally. With growing industrial production and increasing spending power of the Indian middle class households, the country is expected to make it to the top five markets in cars and commercial vehicles by 2020.
In the year 2006-07 sales of the Indian automotive industry crossed the 10 million units mark. Sales (domestic as well as exports) of the industry have grown from 5.51 million units in 2001-02 to 11.12 million units in 2006-07, at an impressive Compound Annual Growth Rate (CAGR) of 15.5 per cent. This, extraordinary growth has been driven by a buoyant economy, increasing purchasing power of the Indian middle class, new product launches and attractive finance schemes from automobile manufacturers and financial institutions. Of the total sales, roughly 10 per cent is contributed by exports to various countries.
The Indian automotive industry is highly competitive, with a number of global and Indian companies present in the market. The size of the Indian automotive industry is expected to grow, at a rate of 13 per cent per annum over the next decade, to reach around US$ 120-159 billion by 2016. In volume terms, the market is expected to reach 31.96 million units by 2015. The total investments required to support this growth are estimated at around US$ 35-40 billion. Two wheelers are expected to lead the growth, with estimated sales of 27.8 million units by 2016. Sales of passenger vehicles are expected to grow, from the current 1.58 million vehicles to 2.65 vehicles by 2015.
The total exports expected from the automotive sector will be around US$ 30–35 billion, of which component exports will account for US$ 20-25 billion and vehicle exports for the rest. The total employment generated in the auto sector will be around 25 million, by 2016 (including indirect employment). According to industry estimates, by 2015, the Indian auto component industry is expected to reach the size of US$ 33-40 billion. Exports are expected to lead the growth, mainly driven by India’s emergence as the low cost-high quality, auto component sourcing destination. Exports are expected to contribute US$ 20 – 25 billion to this industry size.
This article gives detail analysis of the auto component sector. Its present condition and future prospects. A good knowledge of auto lovers...
In the year 2006-07 sales of the Indian automotive industry crossed the 10 million units mark. Sales (domestic as well as exports) of the industry have grown from 5.51 million units in 2001-02 to 11.12 million units in 2006-07, at an impressive Compound Annual Growth Rate (CAGR) of 15.5 per cent. This, extraordinary growth has been driven by a buoyant economy, increasing purchasing power of the Indian middle class, new product launches and attractive finance schemes from automobile manufacturers and financial institutions. Of the total sales, roughly 10 per cent is contributed by exports to various countries.
The Indian automotive industry is highly competitive, with a number of global and Indian companies present in the market. The size of the Indian automotive industry is expected to grow, at a rate of 13 per cent per annum over the next decade, to reach around US$ 120-159 billion by 2016. In volume terms, the market is expected to reach 31.96 million units by 2015. The total investments required to support this growth are estimated at around US$ 35-40 billion. Two wheelers are expected to lead the growth, with estimated sales of 27.8 million units by 2016. Sales of passenger vehicles are expected to grow, from the current 1.58 million vehicles to 2.65 vehicles by 2015.
The total exports expected from the automotive sector will be around US$ 30–35 billion, of which component exports will account for US$ 20-25 billion and vehicle exports for the rest. The total employment generated in the auto sector will be around 25 million, by 2016 (including indirect employment). According to industry estimates, by 2015, the Indian auto component industry is expected to reach the size of US$ 33-40 billion. Exports are expected to lead the growth, mainly driven by India’s emergence as the low cost-high quality, auto component sourcing destination. Exports are expected to contribute US$ 20 – 25 billion to this industry size.
This article gives detail analysis of the auto component sector. Its present condition and future prospects. A good knowledge of auto lovers...
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