The Indian auto industry became the 4th largest in the world with sales increasing 9.5 per cent year-on-year to 4.02 million units (excluding two wheelers) in 2018. It was the 7th largest manufacturer of commercial vehicles in 2018.
India is also a prominent auto exporter. Automobile exports grew 15.54 per cent during April 2018-February 2019. It is expected to grow at a CAGR of 3.05 per cent during 2016-2026. In addition, several initiatives by the Government of India and the major automobile players in the Indian market are expected to make India a leader in the two-wheeler and four wheeler market in the world by 2020.
Domestic automobile production increased at 7.08 per cent CAGR between FY13-18 with 29.07 million vehicles manufactured in the country in FY18. During April 2018-January 2019, automobile production increased 9.84 per cent year-on-year to reach 26.26 million vehicle units.
Overall domestic automobiles sales increased at 7.01 per cent CAGR between FY13-18 with 24.97 million vehicles getting sold in FY18. During April 2018-January 2019, highest year-on-year growth in domestic sales among all the categories was recorded in commercial vehicles at 22.79 per cent followed by 14.79 per cent year-on-year growth in the sales of three-wheelers.
Premium motorbike sales in India crossed one million units in FY18. During January-September 2018, BMW registered a growth of 11 per cent year-on-year in its sales in India at 7,915 units. Mercedes Benz ranked first in sales satisfaction in the luxury vehicles segment
The Indian Automobile industry has attracted Foreign Direct Investment (FDI) worth US$ 20.85 billion during the period April 2000 to December 2018, according to data released by Department of Industrial Policy and Promotion (DIPP).
INDIAN AUTOMobile INDUSTRY AT A Glance IN 2016 - 2017