Commercial Vehicle Market in India

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2010 2010 Commercial Vehicle Market in India-Industry Report Commercial Vehicle Market in India-Industry Report Table of Contents Executive Summary 3 Usage Segment 6 Market share & Competition Situation 8 Key Opportunities 14 Key Success factors 15 Financial Analysis 17 Regulatory Advantage & legal frameworks 22 Recent Mergers & Acquisitions 26 Industry SWOT 27 Market forecast with Macroeconomic assumptions 28 PEST Analysis 30 Annexure 32 List of Industry Associations 32 Executive Summary India being the second most populated and seventh largest nation in the world provides a vast and untapped market for automobile giants. The de-licensing in 1991 provided the well-deserved growth…show more content…
With advantages like low labor costs, easy availability of raw materials and well qualified employees, India has established many industries thereby marking the beginning of an era of rapid industrialization. This has led to the increase in employment rate and income levels, giving rise to a more affluent middle class in the country, which serves as an active consumer base for most of the industries, including the automobile industry. India opened its automobile industry to global players with the de-licensing of the industry in 1991. As a result, automobile production and sales went up strongly in 2007-08 from 2002-03 levels. Even amid global economic slowdown, the industry was able to sustain its positive growth momentum. Moreover, in 2009-10 automobile production and sales surged phenomenally and India emerged as a potential competitor of the largest automobile markets such as China and Japan. Sales of commercial vehicles, particularly light commercial goods carriers are touching new heights, both in domestic and export markets. The growing construction industry and commercial developments have opened new vistas for light commercial goods carriers. But medium and heavy commercial vehicles will also see high demand in the domestic market due to infrastructure development like hydro power projects, port development and mining industry. Commercial passenger

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