AUTOMOBILE SECTOR INDIA

India became the fourth largest auto market with sales increasing 8.3% year-on-year to 3.99 million units in 2018. It was the seventh-largest manufacturer of commercial vehicles in 2018. India is also a prominent auto exporter and has strong export growth opportunities for the near future. 

Browse the full report description Automobile Industry India @ https://marketinsight.in/industry-reports/indian-automobile-sector-growth

However, in 2019, a slowdown in the auto sector has been witnessed still companies are investing significantly in the new plants by anticipating a significant growth in the upcoming period, which will create a significant demand for the automotive industry during the forecast period. 

Recent/planned investments in the automobile sector in India-

• In January 2020, Tata AutoComp Systems entered a joint venture with Beijing-based Prestolite Electric to enter the electric vehicle components market.
• In December 2019, Morris Garages (MG), a British automobile brand announced plans to invest $429.25 million in Indian automobile industry.
• Hyundai is planning to invest $1 billion in India by the end of 2020. 
• SAIC Motor has also announced to invest $310 million in India.
• Mercedes Benz has increased the manufacturing capacity of its Chakan Plant to 20,000 units per year, highest for any luxury car manufacturer in India.

Segment by Region

• India