Success of Indian Car Industry

The Indian car market has worked hard and today it has reached a position where it is now. The Indian car industry emerged with the launch of first car in1898. Slowly the car business of Indian started growing and has come a very long way winning many recognition and appreciation.

There are several factors that have supported in the growth of the Indian car industry. Government played a very vital role in the Indian car market. The flexibility of the policy attracted many foreign investors to be a party of automobile industry. Reduced duty rates on small cars also benefitted.

The economic factors are the second primary reason for the car industrial growth. GDP (Gross Domestic Product), per capita income and high ownership capacity are some of the reasons that encouraged several foreign car manufacturers to enter India.

The Indian car market has proved its worth by receiving global attention and appreciation. Media too played a very good role by breaking down the geographical limitations. This helped the car companies to create awareness in every corner of the world.

It is not just the recognition but also the fact that foreign car manufacturers realized the importance of Indian market and also potential market for their models. It is not just the launch of new cars but many car manufacturers are also setting up production plants in India. The Indian car industry is crowded with all varieties of car models like the small cars, mid-size cars, luxury cars, super luxury cars, and sports utility vehicles.

Hindustan Motors, Hyundai Motors India Ltd., Reva Electric Car Co., Honda Siel Cars India Ltd Fiat India Private Ltd., Daimler Chrysler India Private Ltd, Ford India Ltd., General Motors India, Skoda Auto India Private Ltd., and Toyota Kirloskar Motor Ltd are some of the car brand that shines on the Indian roads. Compared to earlier, the luxury car markets also gained importance in India. Some of the major super luxury car players like Aston Martin, Ferrari, and Rolls-Royce, have long since made a foray into the Indian car market.