Auto News: News on Automobile Industry, Auto Industry Trends, Car companies, Two wheeler companies, Commercial vehicle makers and news on latest cars. Today, Hyundai, Honda, Toyota, GM, Ford and Mitsubishi have set up their manufacturing bases in India. ... the first to be set up by the firm in India. Auto News: News on Automobile Industry, Auto Industry Trends, Car companies, Two wheeler companies, Commercial vehicle makers and news on latest cars. Planners now must prepare for the most fundamental transformations that their industry has ever seen. Which is why most projections posit only small and gradual increases in the share of … I’ll refrain making generic statements as much as possible. The sector employed 12.5 million people (about one per cent of India's population), directly and indirectly, and contributing nearly five per cent to India's GDP. Establishing manufacturing facilities in India has been a strategic move to reduce their manufacturing costs and cater to the expanding Indian market. Come April 2020 and India’s automobile market will change in more ways than one, as the industry leapfrogs to the strictest emission norms—Bharat Stage VI—from the current BS-IV. If you continue browsing the site, you agree to the use of cookies on this website. The Indian automotive industry is well on its way to become one of the world’s major automobile manufacturing hubs. The automobile industry was reeling under intense pressure during the first quarter of FY20 and this was proven by the data from SIAM (Society of Indian Automobile Manufacturers). RSM’s automotive professionals understand the challenges our automotive clients face and the climate in which they operate, including not only accounting, tax and operational issues, but also the business and technical factors that drive the industry. India as a nation might be seeing a rate of economic growth that is the lowest in this decade but some sectors are still performing well, as per experts and the automobile industry is one of them. Indian automotive industry, a summary of the recent developments, and an analysis of the opportunities and challenges facing the various players (Indian and multi-national assemblers and component makers) in the areas of product development, production, and distribution. Indian automotive industry (including component manufacturing) is expected to reach Rs 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. A large number of the roads are single lane roads built almost 50 years ago. Key CX Challenges in the Automotive Industry Automakers like you are coping with greater demand for connected technologies and smarter service experiences to go with their smarter cars, combined with a growing trend of Millennials who don't buy vehicles. In the first 4 months of the 2012-13 fiscal car sales have increased in India by 5.6 percent as per statistics provided by the Society of Indian Automobile Manufacturers (SIAM). Some of the problems faced by the automotive industry include the rising costs of labor and raw materials. . Indian auto industry, is currently growing at the pace of around 18 % per annum, has become a hot destination for global auto … Among all our problems, our inability to produce energy in a sustainable way seems to be the most intractable. One of the major problems faced by this sector is the poor condition of the roads. Although it is possible on paper to produce all our energy from renewable sources, the costs are prohibitive. The road infrastructure is not properly developed. Indian automobile industry is also fast becoming an outsourcing hub for automobile companies worldwide, as indicated by the zooming automobile exports from the country. I have worked as a marketing and sales guy for a reputed and leading German auto-component manufacturer, here in Bangalore. Steel is becoming a costly material … It is expected to become the third-largest by 2020, thus to become a cynosure in the eyes of global automotive industry. New car and bike sales decline for ninth consecutive month 2 nd Aug 2019 11:42 am. Indian automobile industry, growth, challenges, opportunities Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. While the domestic sales plunged 15.93 per cent to 20,01,096 units in April 2019, there was a drop of 8.62 per cent to 20,86,358 units in May 2019. The imponderables have transcended the conventional issues that automakers faced in the past, such as