Passenger vehicles are to increase at a CAGR of 16% between 2013-20.
Two-wheelers and three-wheelers are projected to expand at a CAGR of 9% between 2013-20.
A growing working population and an expanding middle class are expected to remain key demand drivers.
GDP per capita is USD is 1,500.76 in 2012, and is expected to reach USD 1,869.34 by 2018.
India has the world’s 12th largest number of high net worth individuals, with a growth of 20.8%, the highest among the top 12 countries.
Two-wheeler production is projected to rise from 18.5 million in FY15 to 34 million by FY20.
Passenger vehicle production is expected to increase to 10 million in FY20 from 3.2 million in FY15.
Government of India aims to make automobiles manufacturing the main driver of ‘Make in India’ initiative, as it expects passenger vehicles market to triple to 9.4 million units by 2026, as highlighted in the Auto Mission Plan (AMP) 2016-26 (Check the discrepancy).
The Indian automotive sector has the potential to generate up to US$ 300 billion in annual revenue by 2026, as per the Automotive Mission Plan 2016-26 prepared jointly by the Society of Indian Automobile Manufacturers (SIAM) and government.
General Motors has plans to invest $1 billion dollar in the Maharashtra plant by 2020, but is stopping production at its Gujarat Halol plant.
M&M sets up a new business unit to focus entirely on emerging opportunity in Africa. The group has a potential to grow 10 times to a $1 billion (Rs.6,400 cr) business in five-seven years.
Daimler Trucks to Make India a Export Hub of its trucks
Daimler Trucks Asia ( India and Mitsubishi Fuso Japan) sold 185,000 units in 2014. The company plans to increase output by 50% in the coming five years and half of that growth will come from India.
Total production of cars by 2035 can be 1,80,00,000 - One Crore eighty lakhs.
Additional 1.5 lakh cars will be made in 2015-16. Who will make and sell those cars in India?
Growth during 2015-16 is predicted to be 10% in the automobile industry.
Segment April - March 2014 April -March 2015 Growth Forecast in 2015-16
Cars 17,86,826 18,76,017 6-8%
MUVs 5,25,839 5,53,699 10-12%
Two-Wheelers 1,48,06,778 1,60,04,581 6-7%
Grand-Total 1,84,23,223 1,97,52,580 8-10%
Hyundai to make SUVs in India.
Hundai number 2 car maker in India is planning SUV manufacturing in India.
The short-term goal of the company (which has 16% market share presently) is 500,000 units a year.
Hyundai sold 4,20,000 vehicles in India during 2014-15.
Mahindra and Mahindra is buying a 33% stake in Mitsubishi's tractors and agricultural equipment division for $25 Million.
Mahindra manufactures combine harversters and agri-machinery. Mahindra is now planning to launch Mitsubishi Agriculture Machinery's (MAM) superior range of rice planters.
Updated 3 January 2016, 30 June 2015, 16 June, 6 June, 9 April 2015, 13 Feb 2015