Introduction
History
In the year 1953 the Government and private sector of India initiated the manufacturing
Processes for the development of Indian automobile industry, Which was originally emerged in 1940s. From 1970 to 1991 there was very slow growth in the automobile industry due to government restrictions. But now it is changing rapidly. During the last 10-15 years, many international automobile manufacturers have started their services in India either in partnership or alone. The quality of production of Indian Automobile industries is so improved that they have started exports. The development of the automobile industry gave rise to the Automotive Policy 2006-2016, Ministry of Heavy Industries. According to Which the Indian Automobile sector is expected to grow by 2016 to USD 216 Billion. This will ultimately add around 2.5 million new jobs. It is expected that around 2 to 3 million people will buy new vehicles or component every year. The two most difficult challenges faced by the Indian manufacturers are the increasing fuel prices and labor problems. The automobile sector has now become the most contributing sector to the Indian Economy. The Indian Automobile Industry is among the top Automobile Industry in the world by being the world second largest Two wheeler market, Fourth largest commercial vehicle market and overall sixth largest market in the world in terms or Production and consumption. Moreover, it directly or indirectly give employment to around 10
The automobile industry is a capital intensive industry, the players in the industry need high capital expenditure in order to maintain their market position, but the expected returns in the future is quite high. The industry analysis can be carried out under the following heads:
From the last two decades auto industry is growing more competitive. Competition from the foreign automakers like Toyota and Honda is also high. In
In 1895 there were only four cars officially registered in the U.S. Little more than 20 years later in 1916, 3,376,889 were registered! Because of the automotive industry 's major technological advances the automotive industry has been able to pull ahead of other industries over the years. This industry has also proven that to be successful in the business world, you have to take some risks. which has allowed them to get advancements that other industries who weren 't willing to make such risks fail to take advantage of.
With the recovery of economy, the world’s automobile industry has been growing steadily over the past few years. According to Bloomberg, the US automobile sales climbed from its depth 10.4 million in 2009 to over 15.6 million in 2013. Furthermore, industry analysts predict that the sales will
The American automotive industry is a massive force, to say the least. The historical impacts of automotive technology and assembly line manufacturing has effected economies around the world and has also created world-wide ecological challenges. Governments, under pressure from environmentalists, have had to realize, create, implement, and constantly refine manufacturing and emission standards. Consumers, who foot the gas bill for vehicles, continue to express their desire for less expensive autos that require less fuel without sacrificing style, comfort, safety, or performance.
The focus of this paper to describe how the automotive industry has evolved throughout these past years, and its impact on the U.S. economy. The domestic market has gone from being dominated by the “Big Three” which are General Motors, Chrysler, and Ford to now including other major manufacturers from foreign countries. The industry has become an important economic indicator used to predict fluctuations in the U.S. economy. It currently makes up approximately 3.5 percent of the U.S. GDP. The Foreign manufacturers however are slowly increasing market shares now that the Big Three aren’t so big
India produced cheap, reliable and safe automobiles. The U.S big three’s on the other hand, produced
The American automotive industry has led the American economy for many years. This industry has shaped our development, and influenced American culture and social mores. Now, ensnared by globalization and other dominant factors, it faces a difficult reality. The American automotive industry significantly impacted the lives of Americans. Detroit’s “Big Three” had the most significant roles in this. Chrysler, Ford, and General Motors were American symbols. They are credited for a significant percentage of all American jobs; they put numerous blue-collar families into the middle class, and helped America cultivate into the giant of the twentieth century. Unfortunately, the fabled automotive firms are not what they once were and are traveling
The American Auto Industry has grown grammatically since the very early of the twentieth century.
The automotive industry had an extreme impact with the U.S. economy. It was shown that the overall sales topped 375 billion dollars. That 's not to mention that " each worker in the auto industry creates 7 jobs in another industry" (Automotive Industry Analysis, 2004). Automotive manufacturing was a significant driver to the economic growth of the United States. The industry accounted for 3.7% of the nation 's gross domestic product. Not only did economic stability have an effect when the auto industry was alive in the U.S, but technology was becoming more prevalent.
The automobile industry has exceedingly grown in today’s world. From the world’s fastest, luxurious car to the economic and fairly cheap ones, the market is very demanding. The industry in this analysis is Tata Nano. Tata Motors was established in the year 1945 by Ratan Tata and has developed as one of the most prevalent automobile industry in India. Tata Motors, established in a country where most of the population can only afford purchasing motorbikes. But, recent studies showed that 65% of Indian families are now able to afford cars and also applies to the increasing purchasing power of people across developing countries. The Tata Nano was launched in 2008, as a vision of Ratan Tata to facilitate those families who drove on a scooter to have a more comfortable drive at an affordable price of just $2500. Tata Nano is also known as the world cheapest car and signifies great technology and a small
Tata motors limited is the India’s largest automobile company, with the consolidated revenues of INR 2, 62,796 crores in the year of 2014-15. It is the leader in the commercial vehicles in each segment, and among the top in the passenger vehicles with the winning products in the compact, midsize cars and the utility vehicle segments. The Tata motors group has over 60,000 employees are been guided by the mission “to be passionate in anticipating and providing the best vehicle and experience that excite our customer globally. It has been established in the year of 1945, Tata motors presence cuts across the length and the breath of India. Over 8 million Tata vehicles ply on Indian roads, since the first rolled out
As income of people is rises and once the economy gets stable, the demand for automobiles will also increase.
Today, the automotive industry is one the top profitable industries in U.S. and all around the world. More than 1.5 million people involved in different segments such as engineering, designing, ordering, sell, and marketing. As a result of this statement, automotive industry has huge effects on employees, customer support, jobs vacancies, revenue and finally GDP which is the most important part of the economy for any countries (Statista Portal, 2016).
1. The British regarded India as source of supply of raw materials and market for British manufacturers and hence, at the time of Independence, India was industrially an underdeveloped economy.