Automobiles have become an indispensable part of our lives, an extension of the human body that provides us faster, cheaper and more convenient mobility every passing day. Behind this betterment go the efforts of those in the industry, in the form of improvement through technological research. What actually lie behind this betterment of the automobiles are the opinions, requirements, likes and dislikes of those who use these vehicles. Numerous surveys and research are conducted throughout the world every now and then to reveal one or the other aspect of automobiles, be it about the the growth of this industry, the emergence of new vehicles, pollution caused due to vehicle population in cities, or rising motor accidents and causes, vehicular technology, and so on..A lot of interesting surveys and researches are conducted in the field of automobiles. The emergence of global automobile biggies to India has made the government to take notice and sit up so as to drive more investments into this sector. The ministry of heavy industries has recently announced a 10-year mission plan (Automotive Mission Plan 2016) to make India a global hub for automotive industry.
India is the 4th largest car market in Asia, after Japan, Korea and China. For commercial vehicles, the country holds 5th position in the world and it holds the second largest market, after China for 2-wheelers. The Tractor segment is also making steady progress in India. On 29th Januacry 2007, the Prime Minister released Automobile Plan 2006 -2016 to give a road map to Indian Automobile Industry.
According to McKinsey Report, “ Auto Components Industry: Vision 2015,” the Indian Auto Components Industry is expected to grow to US$ 33-40 Billion, by 2015 from around US$ 7 Billion, at present. By 2016, the Automotive sector is expected to contribute 10% of the country’s GDP and 30-35% of the Industry
Indian automotive market is also flooded with lots of foreign cars. According to the JD Power Asia Pacific 2008 India Sales Satisfaction Index (SSI) Study released on 20th Aug, 08, Skoda topped the rankings in overall sales and customer satisfaction for a second consecutive year. JD Power is a global marketing information firm that conducts independent and unbiased surveys of product quality, customer satisfaction, and buyer behavior.
A.T. KEARNEY Consultants (A.T. Kearney is a global management consulting firm with offices in major business centers across 34 countries) conducted an interesting survey in 2004, asking US auto manufacturers for their preference for off shoring jobs. India was the most preferred country over China- Mexico- Brazil, on the basis of Competitive Cost and Quality Commitment.
According to KPMG’s India Automotive Study 2007 (KPMG is a global network of professional firms providing Audit, Tax, and Advisory services), India’s automotive industry is booming and expectations are ofcourse rising. The automotive industry currently contributes about U.S. $34 billion to the Indian economy, producing over 11 million vehicles a year, and employing more than three million people. In that report, KPMG in India interviewed 40 senior executives from various sectors of the industry to find out whether the industry can translate this success into a significant global presence. They are all optimistic considering India'a several years of domestic growth combined with a growing level of internationalization of the manufacturing economy. Passenger car sales in India have grown at about 15% CAGR over the last five years and small cars are expected to dominate the market. New car registrations have increased from 625,000 in 2001 to over 1.3 million in 2006.
According to a survey by the Automotive Component Manufacturers Association of India (ACMA), the market share of passenger cars in India in the year 2006-07 is given below:
- Maruti 47.3%
- Hyundai 25.5%
- Tata Motors 12.7%
- Honda Siel 4.2%
- GM 3.2%
- Ford 2.4%
- Maruti Mahindra Renault
- Maruti Others
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