The automobile (automotive) industry in India is one of the largest in the world, with an annual production of 30 Million vehicles per year (2013–14). It occupies 22% of country’s manufacturing gross domestic product (GDP). This industry is growing day-by-day, because an expanding middle class people, young population, and increasing of companies on daily basis, and exploring the rural markets have made four wheelers segment (with 60% market share). Major industrial experts are expected that Indian automobile market to be leader in the world by 2020.
As of January 2015, according Indian Automobile Manufacturers Society (SIAM), commercial vehicles sale in India grew 6% to 53,000 units. Car sales also grew to 170,000 in January 2015 up 3.20 per cent from the year-ago. Maruti Suzuki is the leader in automotive industry in India with 8.7% share in the market, Hyundai after Maruti Suzuki, and Mahindra & Mahindra occupies third position.
Due to “Make In India” initiative in India, which was launched by Indian Prime Minister Shri. Narendra Modi, last year, foreign investors also actively participating to invest into Indian automobile industry. As per survey statistics, around 73,000 Crore rupees (12 Billion USD) were invested so far in Indian automobiles by world famous investors. Government of India has welcomed foreign investors to invest 100% FDI (Foreign Direct Investment), with this initiative, many investors will be interested to invest.
Maruti Suzuki sold 120,000 Vehicles in January 2015, and Hyundai sold 107,000 vehicles, and Mahindra 75,000 vehicles respectively.