Indian Automobile Industry










HEADLINES:  

Automobile Industry INDIAN AUTOMBILE INDUSTRY AT A GLANCE IN 2020 - 2021 Automobile Industry


India was the fifth-largest automobile market, with around 3.81 million units combined sold in the passenger and commercial vehicles categories. It was the seventh largest manufacturer of commercial vehicles in the year 2020. The two wheelers segment dominated the market in terms of volume owing to a growing middle class and a nascent population.

Indian Automobile Industry in 2020-2021

Electric Vehicle Segment

India's electric vehicle (EV) market is estimated to be a Rs. 50,000 crore (US$ 7.09 billion) opportunity by 2025, with two- and three-wheelers expected to drive higher electrification of the vehicles. EV sales, in India witnessed a growth of 20% and reached 1.56 lakh units in FY20 driven by two wheelers. According to Industry sources, India's EV finance industry is likely to reach Rs. 3.7 lakh crore (US$ 50 billion) in 2030.


Market Size

Domestic automobiles production increased at 2.36% CAGR between FY16-20 with 26.36 million vehicles being manufactured in the country in FY20. Overall, domestic automobiles sales increased at 1.29% CAGR between FY16-FY20 with 21.55 million vehicles being sold in FY20. Two wheelers and passenger cars accounted for 80.8% and 12.9% market share, respectively, accounting for a combined sale of over 20.1 million vehicles in FY20.


Automobile Exports

Overall, automobile export reached 4.77 million vehicles in FY20, growing at a CAGR of 6.94% during FY16-FY20. Two wheelers made up 73.9% of the vehicles exported, followed by passenger vehicles at 14.2%, three wheelers at 10.5% and commercial vehicles at 1.3%.


Industry Investments

The Indian Automobile industry has attracted Foreign Direct Investment (FDI) worth US$ 24.62 billion between April 2000 and September 2020, according to the data released by Department for Promotion of Industry and Internal Trade (DPIIT).


Forecast

Indian automotive industry is expected to reach Rs. 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. The Indian auto industry is expected to record strong growth in 2021-22, post recovering from effects of COVID-19 pandemic. Electric vehicles, especially two-wheelers, are likely to witness positive sales in 2021-22after a major slump due to Covid lockdowns. The luxury car market is expected to register sales of 28,000-33,000 units in 2021, up from 20,000-21,000 units sold in 2020.



Automobile industry  INDIAN AUTOMobile INDUSTRY AT A Glance IN 2019 - 2020

Automobile industry  INDIAN AUTOMobile INDUSTRY AT A Glance IN 2018 - 2019

Automobile industry  INDIAN AUTOMobile INDUSTRY AT A Glance IN 2017 - 2018

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Automobile industry  INDIAN AUTOMobile INDUSTRY AT A Glance IN 2013 - 2014

Automobile industry  INDIAN AUTOMobile INDUSTRY AT A Glance IN 2012 - 2013

Automobile industry  Society of Indian Automobile Manufacturers

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