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How Automobile Industry to Drive in This Decade What will dominate the space of the Automotive Industry in this decade? The last decade was pivotal for the automotive industry, as many important achievements grabbed in different dimensions of the automobile industry. As two-wheeler dominated the industry and made up 81 per cent share in the domestic automobile sales in FY19. In the Indian market, the industry including component manufacturing is expected to reach USD 251.4 to 282.8 by 2026. This makes India the world’s fourth largest automobile industry, as country is fourth largest in car manufacturing and seventh largest manufacturers of commercial vehicles in 2018.

With business consulting companies in India, foreign investors are now expanding their businesses by opening a business in India. With the raise of labor costs in China, many business leaders went back to US or Europe to open their own manufacturing unit. The number of business


leader who stayed in Asia, shifted their units to India, as labor costs are significantly lower as compare to China. Here is the list of advantages succeeding with cons that are dominating space of the Automotive Industry in this decade. ● India becomes the 4th largest vehicle market ● Inquiries are raised by 25 per cent since last month ● GST Rates on EV goes down from 12 per cent to 5 per cent ● India to go 100%EV by 2030 ● The industry grows annually by 18 per cent. ● India to reach as the third largest sector of the automobile market in terms of volume by 2026 ● India is expected to reach USD 300 bn by 2026 With above-mentioned bulleted points one can easily make it clear that expanding their business in a growing country I.e., India can be the deal of profit for them. Tecnova is an automotive consultancy in India with the expertise of 3 decades, potentially working on to steer your businesses toward growth. Tecnova is proclaimed as the merger and acquisition firm in India with the best management consulting in India assisted some of the world’s strongest brands to design and implement strategies to enter and expand business in India.

Contact us: Phone No: +91-124-435-6300 Email: enquiries@tecnovaglobal.com Address: 335, Udyog Vihar, Phase IV, Gurgaon, Haryana, INDIA 122 015

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How Automobile Industry to Drive in This Decade  

What will dominate the space of the Automotive Industry in this decade? The last decade was pivotal for the automotive industry, as many imp...

How Automobile Industry to Drive in This Decade  

What will dominate the space of the Automotive Industry in this decade? The last decade was pivotal for the automotive industry, as many imp...

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