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Scope of Indian Automobile Sector

The Indian automobile industry is going through a phase of rapid change and high growth. With new projects coming up on a regular basis, the industry is undergoing technological change. The major players are expanding their plants and focusing on mass customization, mass production, etc.

INVESTMENT IN AUTO SECTOR
Nearly every automobile company is investing at a higher rate than ever before to achieve a high growth trajectory. The overall investment in the sector has been increasing quite rapidly. It is expected that by the end of 2010 Indian automobile sector will be investing a huge amount as Rs. 30,000 crores.

For example, Maruti Udyog has plans of investing Rs. 6,500 crores; the Tata Motors is coming up with more investment of Rs. 2,000 crores in its compact car project. Not only the Indian companies but also foreign players like Hyundai are coming up with the investment of more than Rs. 3,800 crores in India.

GROWTH IN THE SECTOR
At present the industry is enjoying a growth rate of 14-17% per annum, with domestic sales growth at 12.8%. The growth rate is predicted to double by 2015.

As it is seen, the total sales of passenger vehicles - cars, utility vehicles and multi-utility vehicles - in the year 2005 reached the mark of 1.06 million. The current growth rate indicates that by 2012 India will overtake Germany and Japan in sales volumes.

Financing schemes have become an important factor in the growth of automobile sales. More and more financial schemes are coming up with easy installment plans to lure the customers.

Apart from domestic production, the industry is consistently focusing on the automobile exports. The auto component segment is contributing a lot in the export arena. The liberalized policies of the government are now making the companies go for more and more exports.

The automobile exports are increasing year by year. According to the Society of Indian Automobile Manufactures (SIAM) automobile exports in the last five years are as follows:

Export trend over the last five years

NEW LAUNCHES
The Indian automobile sector is experiencing changes in every arena. Changes in the looks of the vehicles are taking place; the vehicles are being made more user-friendly. Each and every firm is competing to give the customers more customized vehicles with respect to speed, mileage, and maintenance. At present there are many new models entering the Indian market. To name a few, Suzuki Heat 125 and Suzuki Zeus 125X are the two bikes in the motorcycle segment; Kinetic Blaze and Honda DIO in the scooter segment; Maruti's Zen Estillo in the car segment, so on and so forth.

EMPLOYMENT IN THE SECTOR
Investment is leading to the employment growth in the sector. With the emergence of new projects and introduction of technological advancements, the focus is more on the skilled and experienced human resource. The companies are looking for skilled and hard working people who can give their best to the organization.

The engineers in the automotive or electrical or mechanical field are in demand. Some of the firms going for automation, i.e. planning for CAD (Computer Aided Designs) systems, are also recruiting people with IT specializations.

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Scope of Indian Automobile Sector