Cars are on an overdrive in India. The disposable income levels of Indian middle class has grown significantly over the last decade. This coupled with the ease of getting a car loan has resulted in an increased demand for family cars India. These factors have made India the 7th largest automobile producer in the world with an annual production of 17.5 Million vehicles. Considering the demographic split, with 60% of population under 35 years of age, it is predicted that this industry (Cars India) will become the 3rd largest in the world by 2020.
The Auto Industry account for over 22 percent of the country’s GDP in manufacturing.
With new Indian cars releases happening almost every month, the car industry in India is BIG. In 2013 the sales for cars in India went low, but 2014 showed signs of bouncing back.
Top 10 selling cars in India 2014 have been
1) Maruti Suzuki Alto
2) Maruti Suzuki Swift Dzire
3) Maruti Suzuki Swift
4) Maruti Suzuki WagonR
5) Hyundai Grand i10
6) Mahindra Bolero
7) Hyundai Eon
8) Honda City
9) Maruti Suzuki Omni
10) Honda Amaze
The majority of India’s car manufacturing industry is divided into Zones.
The south zone is the leader with 35% revenue share, accounting for 60% of the country’s automotive exports. It handles the India operations of Ford, Hyundai, Renault, Mitsubishi, Nissan, BMW, Hindustan Motors, Daimler, Caparo, Mini, and Datsun.
In the western zone, along the mumbai pune belt we have the western cluster, with a 33% share of the market. Audi, Volkswagen, and Skoda are located in Aurangabad. Mahindra and Mahindra at Nashik. General Motors, Tata Motors, Mercedes Benz, Land Rover, Jaguar Cars, Fiat, and Force Motors also have assembly plants in the area.
The northern cluster is around the National Capital Region, and contributes 32%. Gurgaon and Manesar, in Haryana, are where the country’s largest car manufacturer, Maruti Suzuki, is based.
Gujarat is the new kid on the block, with a manufacturing facility of General Motors in Halol, and a planned facility for Tata Nano at their plant in Sanand. Ford, Maruti Suzuki, and Peugeot-Citroen plants are also planned for Gujarat.
If you need any assistance in selecting the best insurance for your vehicle, please fill in the form above and get the best insurance quote.