Auto in India – Indian Automobile Market

India has a huge market for players in the auto industry. A huge population with a significant population of affluent people, though a small percentage of the total population is still big enough for every auto manufacturer in the world, to look at India as a lucrative destination for their investment. With India opening its doors to the world, the economy has seen an unprecedented boom in the earnings and the spending power of the common man. Also with banks being flushed with money and always on the lookout for deployment, looking to increase their profits, also help immensely, by financing the buying of cars, bikes or any vehicle, be it for commercial purposes or personal.

This spurt in the economy of the country has boosted the sales figures of auto manufacturers, who are now vying with one another to capture the majority share in the auto segment in the country. Though India generally was thought to be conservative in buying cars or autos twenty years back, with people opting for budget vehicles, be it car or bike, with emphasis on price and maintenance costs, things have turned around recently with people opting to for the latest up market products laying emphasis on brand name, luxury and status. This has prompted well known international manufacturers of prestigious brands like Mercedes Benz, Lexus, Ferrari to name a few to market their top of the rack latest versions of their vehicles in the Indian market. This also holds good for international manufacturers of motorbikes and scooters to also eye the Indian auto market positively.

Coupled with this, are our very own manufacturers, who traditionally have been making cars and bikes for the then conservative Indian market ,giving cheap, sturdy and reliable vehicles now focusing on the up market . Achieving a good brand name, on par with international brand names, matching them in class, luxury, comfort and technology. This arguably healthy trend has given the Indian consumer a wide variety of choices hitherto unavailable twenty years back.

Indian auto manufacturers are not only catering to the Indian market but are also eyeing the international scene with interest. In fact some Indian players have already established a presence in many countries namely the third world and also some eastern European countries. Needless to say India in the future could be counted among the top ten auto manufacturers in the world. With research and development being funded generously by the respective corporate houses this is an achievable reality in the future. Advancement in indigenous technology will also go a long way as to capture the world auto market because of the reduction in production costs.

All in all, it must be said the Indian auto industry is poised for a big leap in this century, competing with the best in the business in the international scene. This augurs well for the Indian consumer also as he will be exposed to latest in technology, comfort and class within his affordable range of price. The only downside being that, our already congested roads are going to be worsening with more and more autos on the Indian them.