ALL ABOUT INDIAN AUTOMOBILE INDUSTRY

Indian automobile industry was developed in depth by the first time in 1898. As on the current market India is holding strongly the position of tenth and when we look in commercial vehicles we hold the position of forth in it. In India  we show an excellent expansion ration of 18% and in numbers of 2million per year in production, it is been clearly estimated that it cross a production level of 10 million units of production in the coming years. Increase in automobile production will also increase per capita income, various tax relief policies, easy accessibility of finance, new models launch and discount offers made by dealers which resulted in to a surprising growth of India automobile industry in these days.  

Automobile vehicles can be classified as Non Commercial vehicles, commercial vehicles, three wheelers and two wheelers, with two wheelers having a maximum market share of more than 75% based on total Market Share of Indian Automobile industry.  Automobile companies of India, Korea, Europe and Japan play a vital role in the Indian market. Tata Motors holds exceeds 60% of the market share which mainly depends on the maximum volume of mid and commercial vehicles produced. Hero Honda is the leading key player in the Indian Motor cycles production. Bajaj is the spot one manufacturer of three wheelers in India. Non commercial vehicle section is majorly ruled by the car manufacturers capturing over 82% of the total market share. Maruti has been the biggest car manufacturer and holds more that 50% of the market share since long period.  Indian automobile industry also affected in the sales figures of the last financial year by the Global recession. Automobile industry is expecting high hopes in 2009-2010 and banks also reduced loan interest and the middle income groups who are becoming efficiently stronger with every passing day are main class of customers who are concentrated over.  

1. Car Manufacturers  

Car manufacturing was started up in India by 1940. Many cars are made by foreign technology in India. And as of current car manufacturing market, Indian car manufacturers dominate the business. The prospect of Indian car manufacturing future is bright. Foreign car manufacturers like Ford, Toyota, Hyundai, Suzuki, Honda and Skoda are spreading their base in the Indian countries Automobile market.  

2. Two Wheelers Manufacturers  

Indian two wheelers manufacturers are doing good capture of the market and an excellent dealing. In the past few years, two wheelers manufacturers have proved strong development in this sector. The survey shows that the total number of the two wheelers and three wheelers produced in India in 2006 - 07 were around 9 million.   

(i) Insurance  

Under the provisions of Motor Vehicles Act all the vehicles, each and every one should be insured at least to cover third party liability to run in public place as specified under the Act. There are two types of policies available for motor insurance   

• Third party Car insurance -policy A  

• Comprehensive insurance policy- policy B.  

(ii) Finance   

There are many companies that providing the finance for both two wheelers and four wheelers:  

Citicorp Maruti:   

Citicorp Maruti is a united venture between Citibank and Maruti Udyog Limited. The company is providing the finance for both new and second hand vehicles.  

 HDFC Bank Ltd:  

HDFC bank also providing the finance for the new vehicles. This bank has achieved a large measure by simplifying the procedures associated with taking a loan.  

Fiat Sundaram Auto Finance Limited:  

Sundaram Finance limited and financing FIAT is doing as a joint venture for the car finance  

ICICI:  

ICICI is the best options for buying a vehicle. It offers loans at competitive prices, without complex measures to follow, and you can choose from variety of payment schemes.  

Standard Chartered Bank - India   

The Standard Chartered Bank goes back to more than a century ago, and it operates into three business divisions - Consumer Banking, Corporate and Institutional Banking and Treasury. Different loans are provided by Consumer banking , which also contain auto loans done in an effective way.  

(iii) Car Accessories  

In-car audio systems, car perfumes, mats, and fog lights are some of the car accessories industry in India. In 2007, the range of USD 8 billion in the 2007 year for the car accessories market. In recent years, extensive foreign investments have entered into Indian car accessories industry. All Indian car accessories manufacturing companies are members of the Automotive Components Manufacturers Association (ACMA).Incase of two wheelers spare producers the number of producers are more and their contribution is high in level of the market share.  

Source: articles.besttofind.com/a-85/autos/all-about-indian-automobile-industry.html