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Automotive Industry is the Key Driver of Any Growing Economy

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  Automobile Industry A utomotive industry is the key driver of any growing economy. Due to its deep forward and backward connections with almost every segment of the economy, the industry has a strong and positive multiplier effect and thus propels progress of a nation.The automotive industry comprises of the automobile and the auto component sectors. It includes passenger cars; light, medium and heavy commercial vehicles; multi ‐ utility vehicles such as jeeps, scooters, motorcycles, three wheelers, tractors, etc.; and auto components like engine parts, drive and transmission parts, suspension and braking parts, electrical, body and chassis parts; etc.The Indian automotive industry has made rapid strides since de ‐ licensing and opening up of thesector in !!. It has witnessed the entry of several new manufacturers with the state ‐ of  ‐ arttechnology, thus replacing the monopoly of few manufacturers.The norms for foreign investment and import of technology have also been liberali ed over theyears for manufacture of vehicles. At present, ##$ foreign direct investment %&DI' is permissible under the automatic route in this sector, including passenger car segmentThe automobile sector in India has come a long way. This sector has reported high growth ratefrom () percent to a worst negative growth in some segments during past years. The Indian autosector is one of the most vibrant industry. The automobile industry is one of India*s major sectors; accounting for (($ of the country*s manufacturing +D. The Indian auto industry,comprising passenger cars, two-wheelers, three-wheelers and commercial vehicles, is theseventh-largest in the world with an annual production of ./ million vehicles, of which (.0million are e1ported. The Indian Auto market has the potential to dominate the +lobal autoindustry, provided, a conducive environment is created for potential innovators come up withnew pilot projects.&or the year (#(-(#0, automobile sector has shown a sluggish growth, citing high ownership costs like e1cise duty, the cost of registration, fuel costs, road ta1 and slow rural income growth. 2ver the ne1t few years, solid, but cautious growth is e1pected due to improved affordability, rising incomes and untapped markets. All these give a promising opportunity for automobile manufactures in India. According to 3ac4uarie e4uity research, passenger vehicle sales are e1pected to double in the ne1t four years and growth is anticipated to be higher than) percent from the past # years. In this paper, we have made an attempt to forecast the sales, production and e1port trend for the Indian automobile industry over ne1t three years.Table shows the +ross turnover of automobile Industry over the year +5266 T75829:5 2& T: A7T232<I=: 3A87&A>T75:56 I8 I8DIA %I8 76D3I==I28' (##)-#(##-#?(##?-#!(##!-#(##- 0#,@)0),)(00,(/#@0,(!)/?,/?0 (USD Conversion Rate) @/@#@)@@)    Segmentation of Automobile Industry The automobile industry comprises of eavy vehicles %trucks, buses, tempos, tractors';  passenger cars; Two-wheelers; >ommercial 9ehicles; and Three-wheelers. &ollowing is the segmentation that how much each sector comprises of wholeIndian Automobile Industry. Production The cumulative production data for April-3arch (#0 shows production growth of only .(#  percent over the same period last year. The industry produced ,)?/,0// vehicles in 3arch (#0 as against ,?@/,?)? in 3arch (#(, which declined by %-' ?.# percent.    1,777,583 1,838,593 2,357,411 2,982,772 3,146,069 3,233,561549,006 416,870 567,556 760,735 929,136 831,744500,660 497,020 619,194 799,553 879,289 839,7428,026,681 8,419,79210,512,90313,349,34915,427,532 15,721,18010,853,930 11,172,27514,057,06417,892,40920,382,026 20,626,227 Automobile Production Trend Passenger Vehicles Commercial Vehicles Three Wheelers Two Wheelers ran! To al Domestic Sales during April-March 2013 The overall growth in domestic sales during April-3arch (#0 was (.) percent over the same  period last year. hile in 3arch (#0 overall sales fell by %-' .) percent over 3arch (#(.assenger 9ehicles segment grew at (./ percent during April-3arch (#0 over same period last year. assenger >ars declined by %-' ).)! percent, 7tility 9ehicles grew by /(.(# percent and 9ans grew only by .#? percent during April-3arch (#0 as compared to the same period last year. owever, in 3arch (#0 passenger car sales further declined by %-' ((./ percent over 3arch (#(. Total passenger vehicles sales also declined by %-' 0.# percent in 3arch (#0 over same month last year.The overall >ommercial 9ehicles segment registered de-growth of %-' -(.#( percent in April-3arch (#0 as compared to the same period last year. hile 3edium B eavy >ommercial 9ehicles %3B>9s' declined by %-' (0.? percent, =ight >ommercial 9ehicles grew at @.#@  percent. In 3arch (#0, 3B>9s sales further declined by %-' ().) percent over 3arch (#(.Three heelers sales grew by @.? percent in April-3arch (#0. assenger >arriers grew by ?./? percent during April-3arch (#0 and +oods >arriers registered de-growth at %-' !.(#  percent during this period.Two heelers registered growth of only (.!# percent during April-3arch (#0. 6cooters, mopeds and motorcycles grew by @.(@ percent, ./0 percent and #.( percent respectively over same period last year. owever, in 3arch (#0 all sub-segments of two wheelers, scooters,  motorcycles and mopeds registered de-growth at %-' 0.? percent, %-' ?.0( percent and %-' @./@  percent respectively.   1,549,882 1,552,703 1,951,133 2,501,542 2,618,072 2,686,429490,494 384,194 532,721 684,905 809,532 793,150364,781 349,194 440,392 526,024 513,251 538,2917,249,278 7,437,6199,370,95111,768,91013,435,769 13,797,7489,654,435 9,723,71012,295,19715,481,38117,376,624 17,815,618 Automobile Domestic sales trend Passenger Vehicles Commercial Vehicles Three Wheelers Two Wheelers ran! To al !ports During April-3arch (#0, overall automobile e1ports registered de-growth of %-' .0@ percent compared to the same period last year. assenger 9ehicles grew by !.#( percent, while the other segments like >ommercial 9ehicles, Three heelers and Two heelers fell by %-'0.0/ percent, %-' ).(( percent and %-' #.( percent respectively. In 3arch (#0, assenger 9ehicles, Two B Three heelers grew by 0.# percent, 0./ percent and ./# percent respectively. hile >ommercial 9ehicles declined by %-' (?.00 percent .
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