Indian cars in 2008

The automobile industry in India is the eleventh largest in the world with an annual production of approximately 2 million units. India is expected to overtake China as the world's fastest growing car market.in terms of the number of units sold and the automotive industry is one of the fastest growing manufacturing sectors in India. Because of its large market a low base of car ownership and a surging economy, India has become a huge attraction for car manufacturers around the world. With the launch of these Chevy brands, General Motors India has thrown a tough competition to the predominant Indian auto giants like Tata and Maruti. The stupendous growth the GM car sales bears testimony to the growing popularity of Chevy brands in India. Hyundai and Fiat are the other major players that are present in this segment. In the sedan and luxury sedan segment, General Motors’ Chevrolet Optra and recently launched Optra Magnum have been receiving rave reviews from auto enthusiasts and auto experts. With the launch of Chevrolet Aveo and Optra Magnum which have a class defined performance, GM India eyes at grabbing 10% of the share in Indian car market by 2010. The industry is valued at about US$ 35 billion contributing about 3.1% of India's GDP . India's cost-competitive auto components industry is the second largest in the world. In addition, India's motorcycle market is also the second largest in the world with annual sales of about 5 million units.







India gave birth to its first car on the city street anticipated from the beginning of twentieth century. With the varied variety of cars ranging from mid size to big size and from luxury, premium to utility cars, Indian wide street along with the narrow, dark lane is overcrowded with multi tasking, stylish four-wheelers. Hindustan Motors and a few smaller manufacturers such as Premier Automobiles, Tata Motors, Bajaj Auto, Ashok and Standard Motors held an oligopoly until India's initial economic opening in the 1980's. The Maruti 800 became popular because of its low price, high fuel efficiency, reliability and modern features relative to its competition at the time. Tata Motors exported buses and trucks to niche markets in the developing world. Though several major foreign automakers, like Ford,Suzuki,GM,and Honda have their manufacturing bases in India, Indian automobile market is dominated by domestic companies. Maruti Suzuki is the largest passenger vehicle company, Tata Motors is the largest commercial vehicle company while Hero Honda is the largest motorcycle company in India.The automotive industry directly and indirectly employs 13 million individuals in India.