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Growth of Indian Automobile Industry

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Growth of Indian Automobile Industry ISSN: 2347-3215 Volume 3 Number 2 (February-2015) pp. 110-118 www.ijcrar.com Growth of Indian Automobile Industry M. Krishnaveni* and R. Vidya Department of Commerce, L.R.G. Government Arts College for Women, Tirupur (Dt.), Tamilnadu, India *Corresponding author KEYWORDS A B S T R A C T Indian automobile The present paper revises the category wise production, sales and exports of Industry, Automobiles in India. In recent years India has been developing as a market Sports utility vehicles potential for automobiles due to rise in demand and as a result there is an increased production to tap the growing demand both at home and in the foreign markets. This is reflected in the production figures of the industry especially remarkable in the passenger vehicle and three wheeler divisions, where production raised from 1,209,876 vehicles in the year 2004 2005 to 3,072,651 vehicles in the year 2013 2014. The sales figure of the industry states that sales of commercial vehicles have decreased. The analysis of the ten year data of the industry indicates that the sale of the industry is quite satisfactory. The exports of made in India rose by 31% in financial year 2004 2005 as passenger cars, two and three wheelers, commercial and multi utility vehicles continue to charm overseas buyers. A total of 1.2 million units were shipped during financial year 2007 2008 over 1 million units exported in the financial year 2006 2007. This paper focuses on SWOT analysis and vision of Indian Automobile Industry. Introduction The Indian automotive industry has emerged (SUVs). The global automobile majors are as a 'sunrise sector' in the Indian economy. looking to leverage India's cost-competitive India is emerging as one of the world's manufacturing practices and are assessing fastest growing passenger car markets and opportunities to export SUVs to Europe, second largest two wheeler manufacturer. It South Africa and Southeast Asia. India can is also home for the largest motor cycle emerge as a supply hub to feed the world manufacturer and fifth largest commercial demand for SUVs. vehicle manufacturer. India is emerging as India also has the largest base to export an export hub for sports utility vehicles c o m p a c t c ars to Europe. Moreover, hybrid 110 and electronic vehicles are new roads. In 1928 assembly of CKD trucks and developments on the automobile canvas and cars was started by the wholly owned Indian India is one of the key markets for them. subsidiary of American General Motors in Global and Indian manufacturers are Bombay and in 1930-31 by Canadian Ford focussing their efforts to develop innovative Motors in Madras, Bombay and Calcutta. In products, technologies and supply chains. 1935 the proposals of Sir M Visvesvaraya to The automotive plants of global automakers set up an Automobile Industry were in India rank among the top across the world disallowed. 1942 Hindustan Motors Ltd. in terms of the productivity and quality. Top incorporated and the first vehicle was made auto multinational companies (MNCs) like in 1950. In 1944 Premier Automobiles Ltd. Hyundai, Toyota and Suzuki rank their incorporated and in 1947 the first vehicle Indian production facilities right on top of was produced. In 1947 the Government of their global pecking order. Bombay accepted a scheme of Bajaj Auto to replace the cycle rickshaw by the auto and History of The Indian Automobile assembly started in a couple of years under a Industry license from Piaggio. Manufacturing Program for the auto and scooter was The Indian automobile industry can be submitted in 1953 to the Tariff Commission viewed in terms of the pre-1991 (before and approved by the Government in 1959. In liberalization) and post-1991 (after 1953 the Government decreed that only liberalization) phase. firms having a manufacturing program should be allowed to operate and mere Before Liberalization (Before 1991) assemblers of imported CKD units be asked 1880 to terminate operations in three years. About hundred years ago the first motorcar Only seven firms namely Hindustan Motors was imported and Import duty on vehicles Limited, Automobile Products of India was introduced. Indian Great Royal Road Limited, Ashok Leyland Limited, Standard (Predecessor of the Grand Trunk Road) was Motors Products of India Limited, Premier conceived. First car brought in India by a Automobiles Limited, Mahindra & princely ruler in 1898. Simpson & Co Mahindra and TELCO received approval. established in 1840. They were the first to M&M was manufacturing jeeps. Few more build a steam car and a steam bus, to attempt companies came up later. Government motorcar manufacture, to build and operate continued with its protectionism policies petrol driven passenger service and to towards the industry. import American Chassis in India. Railways first came to India in 1850's. In 1865 Col. Automobile Products of India (API) and Rookes Crompton introduced public Enfield India had already commenced the transport wagons strapped to and pulled by manufacture of scooters, motorcycles, imported steam road rollers called streamers. mopeds and autos from 1955. In 1956, Bajaj The maximum speed of these buses was Tempo Ltd. entered the Indian market with a 33kms/hr. program of manufacturing Commercial Vehicles, and Simpson for making engines. 1920 to 1950 AIA & AIA (association of the component manufacturers) came into being in 1959 and In 1919 at the end of the war, a large Government approved Bajaj Auto Ltd's number of military vehicles came on the plans for domestic manufacture of Vespa 111 scooters and granted permission to produce of liberalization announced and unfair 6000 units annually. practices of monopoly, oligopoly, slowly disappeared. It was beginning of 1960 Liberalization of the protectionism policies of the Government. Lots of new Foreign In sixties 2 and 3 Wheeler segment Collaborations came up in the eighties. established a foothold in the industry. Many companies went in for Japanese Escorts and Ideal Jawa entered the field in collaborations. Andhra Pradesh Scooters the beginning of sixties. Association of entered into collaboration with Piaggio for Indian Automobile Manufacturers formally manufacture of Vespa model. Hindustan established in 1960. Between 1955 and 1960 Motors Ltd. in collaboration with Isuzu of only API was producing Mopeds. During Japan introduced the Isuzu truck in early the first half of the sixties three companies eighties. ALL entered into collaboration namely Mopeds India Ltd. (1965), SZUL with Leyland Vehicles Ltd. for development Gwalior (1964) and Pearl Scooters Ltd. of integral buses and with Hino Motors of (1962) entered the arena. Standard Motors Japan for the manufacture of W Series of Products of India Ltd. moved over to the Engines. Telco after the expiry of its manufacture of Light Commercial Vehicles contract with Daimler Benz indigenously in 1965. Escorts and Enfield closed their improved the same Benz model and scooter division and continued only with introduced it in the market. Government Motorcycle manufacturing. Entire scooter approved four new firms in the LCV market, market was occupied by Bajaj Auto Ltd. and namely, DCM, Eicher, Swaraj and Allwyn. API in the sixties. They had collaborations with Japanese companies namely, Toyota, Mitsubishi, 1970 Mazda and Nissan respectively. The Two Wheeler market increased. Since 1982 the Major factors affecting the industry's Government had permitted foreign structure were the implementation of MRTP collaborations for the manufacturing of Two Act, FERA and Oil Shocks of 1973 and Wheelers up to 100 cc engine capacity. 1979. Unlike Motorcycle and Scooter Foreign Equity up to 40% was also allowed. segments the Mopeds segment grew rapidly. In the late seventies there were many entries In 1983 Maruti Udyog Ltd. was started in in the Moped Industry. Only two firms collaboration with Suzuki, a Japanese firm. namely, Majestic Auto Ltd. and Sundaram Other three Car manufacturers namely, Clayton managed to survive after 1980. Hindustan Motors Ltd., Premier During the seventies the economy was in Automobiles Ltd., Standard Motor bad shape. This and many specific problems Production of India Ltd. also introduced new affected the Automobile Industry adversely. models in the market. At the time there were five Passenger Car manufacturers in India - 1980 Maruti Udyog Ltd., Hindustan Motors Ltd., Premier Automobiles Ltd., Standard Motor The period of liberalized policy and intense Production of India Ltd., and Sipani competition Since the 80s, the Indian car Automobiles. Ashok Leyland Ltd. and Telco Industry has seen a major resurgence with were strong players in the Commercial the opening up of Indian shores to foreign Vehicles sector. In 1983 84 Bajaj Tempo manufacturers and collaborators. First phase Ltd. entered into collaboration with 112 Daimler-Benz of Germany for manufacture 2000 norms) by the 1st of May 1999 in of LCVs. Important policy changes like National Capital Region (NCR) of Delhi. relaxation in MRTP and FERA, delicensing The deadline was later extended to 1st June of some ancillary products, broad banding of 1999. The 90s have become the melting the products, modifications in licensing point for the car industry in India. The policy, concessions to private sector (both consumer is king. He is being constantly Indian and Foreign) and foreign wooed by both the Indian and foreign collaboration policy etc. resulted in higher manufacturers. Though sales had taken a dip growth / better performance of the industry in the first few months of 1999, it is back to than in the earlier decades. boom time. New models like Maruti s Classic, Alto, Station Wagon, Ford s Ikon After Liberalization (After 1991) and the new look Mitsubishi Lancer have all been launched with an eye on the emerging The government of India has made some market. radical changes in its polices bearing on trade, foreign investment, exchange rate, Emerging Trends In Indian Automobile industry, fiscal affairs and so on.
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