The automobile sector in India has mushroomed over the years into a mature and well-established industry. The establishment of a 300 million middle class in the last twenty years has helped the industry grow into a profitable venture that sells over 100,000 passenger vehicles per month and produced over 2.6 million Indian automobiles in 2009. India is also the fourth largest automobile exporter in Asia. It is estimated that by 2050 there will be more than 600 million cars on Indian roads.
Automobile companies in India include both local and multinational companies. The Indian companies sell a major portion of the vehicles sold in India. Many of these companies are successful because they have been operating for a long time and have built a loyal customer base.
Hindustan Motors is the oldest automobile company in the country. It started its production in 1942. It is producing indigenous vehicles and collaborating with Mitsubishi to produce the new lancer models.
Maruti Suzuki India is the biggest automobile company in India in terms of revenues and sales. It started operating in 1983 as a result of the collaboration of Maruti with Suzuki. The 800 cc vehicle built by the company is credited with starting the automobile revolution in India. Its recent sales figures are around 5000 core rupees.
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Tata is the largest automobile manufacturing company in the country. It has manufactured more than 130 models for both the Indian and International markets. The models include all types of passenger and commercial vehicles.
Almost all the top automobile companies of the world are operating in India. They include Toyota, Mercedes, Skoda, BMW, Ford, Opal, and Hyundai. These companies either manufacture vehicles or build cars by importing built-up units.
Hyundai Motors India is the largest exporter of passenger cars in India and is the countries second-largest manufacturer of automobiles. It is a wholly-owned subsidiary of Hyundai Korea and started operating in 1995. In 2008 it exported more than 240,000 vehicles.
The automobile sector is one of India’s success stories; automobile companies have contributed significantly to the development of the Indian economy by creating jobs paying lots of taxes, and earning loads of foreign exchange.
More information can be found online at autoinfoz.com.