At present time, Indian automobile industry is making a major contribution in increasing the country's GDP by 9% every year. New heights has been scaled by the industry in the year 2010. In January 2010, total automobile sales in the domestic market reached 1114157 units, the figures shows an increment of 44.9% compared to the sales units of 7,68,698 of same period last year. Even for the month of April-October after a gap of 11 years, total automobile sales in India stood at 1,120,081 Units. Annually, the Indian automobile industry is growing at an average rate of 30% and marking itself as one of the fastest growing industries in India. According to the reports of Society of Indian Automobile Manufacturers, annual car sales are estimated to reach 5 million vehicles by 2015 and more than 9 million by 2020 To believe New York Times reports, several automobile companies like Hyundai Motors, Nissan, Toyota, Volkswagen and Suzuki have expanded their manufacturing facilities owing to India's strong engineering base and expertise in the manufacturing of low-cost, fuel-efficient cars.
The following statistics explains the market share of different vehicles in the Indian automobile Industry. This data is valid for the Indian domestic market only.
Passenger Vehicles : 15.86%
Commercial Vehicles : 4.32%
Three Wheelers : 3.58%
Two Wheelers : 76.23%
Production Rate Statistics
The production of automobiles in India has greatly increased in the last decade. At present India is the largest tractor and three-wheel vehicle producer, second largest two-wheel vehicle producer, fourth largest commercial vehicle producer and eleventh largest passenger car producer. For the year 2003-2004 the production rate crossed 7,243,5648 and for the current year it has reached 14,049,830 in terms of total vehicles production. As a result of all this, the resultant annual turnover of the Indian automobile industry for the year is recorded to be 38,238 million USD by Soceity of Indian automobile Manufacturer (SIAM). For the year 2009-10, the production rate for different category of vehicles is as followed(As per SIAM)
Passenger Vehicles : 2,351,240
Commercial Vehicles : 566,608
Three Wheelers : 619,093
Two Wheelers : 10,512,889
Grand Total : 14,049,830
Export Market Statistics
Last year, India's automobile exports had reached $4.5 billion and a consistent export growth rate can be estimated in the year 2010 also with the estimation that it will cross $12 billion by 2014. As per the SIAM records automobile exports have under gown a growth of 22.30 percent during the current financial year. United Kingdom is largest export market for India's automobile industry followed by Germany, Netherlands and South Africa. In the year 2009-10, India has made a huge profit by exporting 1,804,619 no. vehicles. Different brands are utilizing the Indian automobile engineering expertise to manufacture and export maximum no. of vehicles from their Indian plants. Nissan Motors plans to export 250,000 vehicles manufactured in its India plant by 2011. Similarly, General Motors announced its plans to export about 50,000 cars manufactured in India by 2011. Listed below is the statistics showcasing export sales rate of Indian automobile industry for the year 2009-10.
Passenger Vehicles : 446,146
Commercial Vehicles : 45,007
Three Wheelers : 173,282
Two Wheelers : 1,140,184
Grand Total : 1,804,619
Domestic Market Statistics
Even in the domestic market, the automobile industry is experiencing tremendous success. As per statistics launched by Society of Indian Automobile Manufacturers (SIAM), there has been a growth of 32.28% in the domestic car sales, justified from the January 2010 sales 145,905 units against the 2009 sales of 110,300 units. The Commercial Vehicles segment grew marginally at 4.07 percent. While Medium & Heavy Commercial Vehicles declined by 1.66 percent, Light Commercial Vehicles recorded a growth of 12.29 percent. Listed below is the statistics showcasing domestic market sales rate of Indian automobile industry for the year 2009-10.
Passenger Vehicles : 1,949,776
Commercial Vehicles : 531,395
Three Wheelers : 440,368
Two Wheelers : 9,371,231
Grand Total : 12,292,770
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