Indian automotive industry is one of the largest and fastest growing industries in the modern world. Indian automotive industry is the seventh largest in the world and the fourth largest in the Asian continent. And Used Cars In Chennai attributes to the major share in Indian used car market.
India’s car manufacturing industry is majorly classified into three regions- South, West and North. The southern region near Chennai is the largest comprising of almost 35% of the total revenue of the industry, closely followed by the western region near Maharashtra which constitutes about 33% and finally, the northern region near Haryana with 32%.
Chennai is the headquarters for some of the major car manufacturers of India like Ford, Hyundai, Renault and Nissan and also the Bavarian Motor Works(BMW) which has its assembling plant (the only plant of BMW in India) at its outskirts. It is one of the reason why Used Cars In Chennai holds a major share.
Pune in Maharashtra is the emerging cluster in India with some of the important car manufacturers of the market like General Motors, Mahindra and Mahindra, Audi, Skoda, Volkswagen, Tata Motors, Mercedes Benz, Land Rover, Fiat, Force Motors having their respective strongholds.
Gurgaon in Haryana is the home of India’s largest and leading car manufacturer, Maruti Suzuki, which accounts for majority of the domestic car market. India’s leading newspaper, “The Economic Times” has ranked Maruti Suzuki as India’s most trusted Brand in Automobile sector.
Another important region emerging as a stiff competitor is near Gujarat which has a manufacturing facility for General Motors and has further plans for Tata Nano, Peugeot-Citroen, Ford and Maruti Suzuki. Some other manufacturing regions in the country are Kolkata(Hindustan Motors), Noida(Honda) and Bangalore(Toyota).
Of all these automotive companies, only Mahindra and Mahindra, Tata Motors and Force Motors are Indian automotive companies, whereas the others are foreign automotive companies which either manufacture or assemble their vehicles in India. This is due to the fact that the Indian automobile industry was delicensed in 1991 and opened for 100% Foreign Direct Investment(FDI). Thanks to this policy of the Indian Government, India surpassed China as the fourth largest car exporter in Asia next only to Japan, Korea and Thailand.
The Indian automotive industry provides employment for more than 13 million people directly or indirectly. Statistics show that over 11 million vehicles are manufactured and exports about 1.5 million vehicles every year. As compared to the export numbers, imports are very low due to the high cost of the vehicles in India than abroad which is a result of high import duties or taxes in India.
The export numbers are healthy and are expected to breach $12 billion by 2014 as compared to the $4.5 billion in 2009. India’s largest export market is United Kingdom(UK), closely followed by Italy, Germany, Netherlands and South Africa. Hyundai, Mahindra, General Motors, Nissan, Ford, Fiat and Tata are the leading exporters of vehicles manufactured in India.