Archive for August, 2011
Automobile Industry in India
The Indian automobile industry is the ninth largest in the world. Indian domestic automobile companies are Tata Motors, Maruti Suzuki and Mahindra. Automobile industry trucks, buses, tractors, heavy vehicles like passenger cards and bikes are included.
Indian automobile industry is the first car that was developed in 1898 in Mumbai. India today majorly contribute to the economy, is one of the key areas of the country. It directly and indirectly more than 10 million people in the country provides employment. Indian automobile industry globally established the world’s second largest in bikes market, fourth largest in the world in commercial vehicle market, and the eleventh largest passenger car market and it third largest car market likely to be the world behind only the U.S. and China.
Romer Changes Automotive Industry
Many companies benefit from various Romer products including those involved in the manufacture of furniture, sheet metal and molded plastics, as well as those involved in shipbuilding, product designs, heavy equipment and even aerospace among others.
Romer continues to have an impact in all of these industries especially the automotive industry which is regularly reliant on reverse engineering, 3D scanning and products development. This is an industry that maintains its competitiveness by coming out with innovative products that pass rigorous quality control.
Contribution Of Indian Automotive Industry And Its Projections
Since the last few years, Indian automobile industry has grown at a tremendous pace, and currently the Indian automotive components industry is being projected to cross over US $ 110 billion (INR 5 lakh crore) worth business by the year 2020. This figure has been zeroed in after assessing the demands of vehicles, as it is in tandem with the country’s growth of vehicle production. According to the report by the Automotive Component Manufacturers’ Association (ACMA), out of all this, the domestic turnover is likely to grow up to US $ 80 billion (INR 4 lakh crore) and the exports would make up to another US $ 29 billion (INR 1.4 lakh crore).
According to that report, in the fiscal year 2010 – 2011, the turnover of auto components companies India will go beyond USD 26 billion, which is an 18 per cent rise from the previous fiscal year’s turnover, which was just USD 22 billion. Moreover, according to the ACMA-EY (Ernst & Young) Vision 2020 study, most probably, by the year 2020 India is going to witness massive growth in the vehicle production.
How Is The Car Industry Doing Today?
The first automobile with a petrol engine was built in 1885 in Germany, 125 years ago. In 2007 a survey reveals that 1806 million cars are being used around the world: that is how quick the car industry developed. However, one must admit that in 2008 there was a decisive turnabout in the car industry, which affected every country and every business area on earth. A lot of companies and even a lot of business domains have simply collapsed due to the car industry crisis, which affected everything around it like a domino effect.
Although one might say today that the car industry has recovered a little bit, many car manufacturers remember nostalgically the years before the crisis. It is pretty obvious that sales will not reach the numbers previous to 2008 too soon, but it is though encouraging the fact that the automotive industry has regained some of its balance, dragging the other fields of activity – like leasing, insurance, etc – along with it.