India’s annual production of automobiles in FY21 was 22.65 million vehicles, and 13 million vehicles were produced between April-October 2021 alone. For the calendar year 2021, the total sales increased by 5.8% to 18.49 million units, compared to 17.47 million units in January-December 2020.
In the current year 2021, passenger vehicles sales increased by 26.6% to 3.08 million units, up from 2.43 million units in CY20. The total number of commercial cars sold was 677,119, up 34% from 505,102 in the previous year
In FY21, the total passenger vehicles production reached 22.65 million vehicles.
Two wheelers and passenger vehicles dominate the domestic Indian auto market. Passenger car sales are dominated by small and mid-sized cars. Two wheelers and passenger cars accounted for 81.21% and 14.56% market share, respectively, accounting for a combined sale of over 17.8 million vehicles in FY21.
3680 premium motorcycles were sold in India in the year 2021. This was a 21% increase over the 2020 numbers.
In 2021, 329,190 EVs (Electric Vehicles) were sold in India, indicating a 168% YoY growth over last year’s sales of 122,607 units.
Among automobiles the two wheelers segment dominates the market in terms of volume owing to a growing middle class, and a huge percentage of India’s young population. Also there had been a marked increase in the rural areas of India resorting to the buying of automobiles.Industry Exports
India is a prominent auto exporter and has strong export growth expectations for the near future. Several initiatives by the Government of India and major automobile players in the Indian market is expected to make India one of the leaders in the two-wheeler and four-wheeler market in the world by 2022.
Automobile exports reached 4.13 million vehicles in FY21, growing at a CAGR of 3.47% during FY16-FY21. Two wheelers (79.38%), passenger vehicles (9.79%) and three wheelers (9.52%) made up the majority of exports from India.Industry Investments
The Indian Automobile industry attracted Foreign Direct Investment equity inflow (FDI) worth US$ 30.78 billion between April 2000-September 2021.
INDIAN AUTOMobile INDUSTRY AT A Glance IN 2017 - 2018