Business Standard

10 years of automobile: Manufacturers find growth gears amidst challenges

In the third of a six-part series, we look at the turning points in the automobile sector

Ajay Modi  |  New Delhi 

The Indian automobile industry has successfully doubled the domestic market for passenger vehicle (cars, utility vehicles and vans) and two wheelers over the past decade riding over the various challenges and years of low or no growth. India has now become the fifth biggest market for passenger vehicles and the biggest market for two wheelers, thanks to the growing population of scooters and a sustained demand for motorcycles.

Over three million PVs and twenty million two wheelers are consumed locally in a year. New players entered and some exited but the market remained firm. ...

First Published: Thu, March 22 2018. 07:00 IST