India is fast becoming the largest car manufacturing and automobile hub in Asia and also across the globe. There are large number of car brands and automobile companies from all over the world who have set up base and special mention needs to be given to the home grown Indian automobile manufacturers, who are out to impress the entire world with their range of manufactured cars in India.
Catering to the Largest Automobile Market
India is known to have the biggest automobile markets and also is presently the leading one when growth is concerned. The passenger and commercial Indian automobile industry is among the top ten on global scale of its kind. In the year 2011, according to reliable sources, this industry is said to have produced more than 3.9 million cars in India. As a matter of fact the low car prices in India have actually left behind other countries like Brazil. Moreover, it has performed much better in countries like Mexico, Belgium, Spain, Russia, France, Canada and Italy, when passenger vehicle segment is taken into consideration.
Leading Car Manufacturers and their Market Share in India
- Maruti – 40%
- Hyundai – 13.88%
- Tata Motors – 13.12%
- Mahindra & Mahindra – 7.89%
- Toyota – 6.46%
- Honda – 3.91%
- Chevrolet – 3.75%
- Ford – 3.20%
- Volkswagen – 2.95%
- Nissan – 2.08%
- Skoda – 1.71%
- Fiat India – 0.50%
- Renault – 0.50%
- HM-Mitsubishi – 0.18%
Latest Developments and Trends in the Indian Automobile Sector
Even though the global economy is still low, the Indian automobile sector is reported to be performing well. This sector is trying to implement safety and emission related norms which is applicable in international markets for ensuring that the industry witnesses sustainable growth rate. The introduction of electric cars in India to the mass is still a long way, due to the high cost associated with it, but efforts are being made by manufacturers to come out with innovations that would further reduce its price and make it affordable.
Moreover, the stringent rules passed by the government would help the country to enhance its auto exports, while trying to become an important regional center. Emission norms that are being followed by four wheeler in Europe are being put into practice, so that the cars become environmental friendly. Presently the Indian car brands have been trying to launch new products in the market that is both cost effective, follow global standards and has the potentiality to impress the global clients. Suv cars in India already have started to make a mark in that direction.