The world's leading car-makers are already in India - not just selling, but manufacturing. The Indian automobile and automotive parts industry is currently experiencing an unprecedented boom in demand for all types of vehicles especially cars and two wheelers like motorcycles and mopeds. In the car segment new models from new and existing car manufacturers, exporters and suppliers have flooded the market. Even in the automotive parts and ancillary industry, Indian manufacturers, exporters, suppliers are producing the entire range of automobile parts and accessories required by the domestic automobile industry for various vehicles including cars, jeeps, light and heavy commercial vehicles (LCV's and HCV's), tractors, two and three wheelers.
Our automobile manufacturers, automotive parts exporters, Indian automobile suppliers and automobile accessories manufacturer for the auto spare parts for the heavy commercial vehicles, tractors and light vehicles are all highly engaged in achieving a tremendous turnover for the Indian Auto Industry. This boom in the automobile industry in India has has been triggered primarily by two factors:(1) increase in disposable incomes and standards of living of middle class Indian families; and (2) the Indian government's liberalization measures, reduction of tariffs on imports (which has brought in new auto manufacturers into the country), and banking liberalization that has fueled financing driven purchases.
In terms of two wheelers, India is the second largest manufacturer of two-wheelers in the world, next only to Japan and China in terms of number of two-wheelers produced and sold respectively. India is one of the very few countries manufacturing three wheelers in the world. It is the world's largest manufacturer and seller of three-wheelers. The demand for scooters is on the wane, with a gradual shift in demand for motorcycle and scooters.
Indian passenger vehicles companies have launched over 34 new models, variants and special editions as on date in calendar 2004. By the close of 2004, the figure could be over 37 -a good 27 per cent more than the 29-odd new launches reported last year.
Car makers and auto analyst alike believe that this is a distinct developed market trend setting in India. It is the time-tested 'model-year' concept of the West, where every automobile manufacturer launches at least one new model or a variant of the model every year, usually in the beginning of the calendar year. The logic is simple: customer fatigue is bad for business and a new launch every year keeps customer excitement in a brand alive.
Maruti Udyog Ltd, the country's largest car maker, has thus far placed six new models or variants in 2004, while Tata Motors has made three launches. Luxury (D-segment) player SkodaAuto, which was relatively quite in 2003, has launched five new models or variants in 2004. In 2004 (till October) with seven launches Hyundai Motor India Ltd has had the maximum number of launches, followed by market leader MUL with six launches. Some major players in the Indian auto industry include: Bajaj Auto, Hindustan Motors, Hero Honda, Mahindra, Maruti Udyog Ltd, Daewoo Motors, Eicher Motors, Ford, LML, Telco, Kinetic Engineering, TVS Suzuki and many more.
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