Advantage India
Growing
Demand
*Rising middle class income and a huge youth population will result in strong demand.
*In June 2022, the total production of passenger vehicles*, three wheelers, two wheelers, and quadricycles was 2,081,148 units.
Opportunities
*India could be a leader in shared mobility by 2030, providing opportunities for electric and autonomous vehicles.
*Focus is shifting to electric vehicles to reduce emissions.
*The electric vehicles industry is likely to create five crore jobs by 2030.
Rising
Investment
*The automobile sector received cumulative equity FDI inflow of about US$ 32.84 billion between April 2000-March 2022.
*The Government of India expects the automobile sector to attract US$ 8-10 billion in local and foreign investments by 2023.
Policy
Support
*In September 2021, the Indian government issued notification regarding a PLI scheme for automobile and auto components worth Rs. 25,938 crore (US$ 3.49 billion).
*The Automotive Mission Plan 2016-26 is a mutual initiative by the Government of India and the Indian automotive industry to lay down the roadmap for the development of the industry.
Maruti Suzuki
Maruti Suzuki India Limited, subsidiary of Suzuki Motor Corporation, Japan, is India’s biggest car maker with more than 42.75% market share in the passenger vehicles segment in FY22. The company recorded passenger vehicle sales of 1,165,483 units in FY22. Maruti Suzuki’s passenger vehicles sales stood at 110,602 units in May 2022.
Company Website: https://www.marutisuzuki.com/
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Tata Motors
Tata Motors was established in 1945 under the Tata Group. It is among the world’s leading manufacturers of automobiles with an employee strength of around 81,090. It was the market leader in commercial vehicles segment with about 42.23% market share in FY22. It is present in multiple segments like cars and utility vehicles, trucks and buses, defence vehicles, and electric vehicles. The company has extended its presence internationally through joint ventures (JV) like the strategic alliance with Fiat and Marcopolo. Tata Motors is present in about 175 countries with research and development (R&D) centres in UK, Italy, India and South Korea. Tata Motors sold 27,553 commercial vehicles in May 2022.
Company Website: https://www.tatamotors.com/
Read MoreHero MotoCorp Limited
Hero MotoCorp Limited (formally Hero Honda Motors Limited) is the world’s largest manufacturer of two-wheelers. It is present in South Asia, Africa, Middle East, and Latin America. Hero MotoCorp was the first Indian two-wheeler company to establish a manufacturing plant in Latin America. Its key products include two wheelers up to 350cc and spare parts.
Company Website: https://www.heromotocorp.com/en-in/
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