The report presents an in-depth assessment of the India Passenger Car Market Outlook Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for India Passenger Car Market Outlook investments from 2021 till 2025.
India Passenger Car Market Outlook market is growing at a CAGR of 9.5% during the forecast period (2021-2025).
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The India Passenger Car Market Outlook market is highly competitive and consists of a number of major players. Top Companies like Automotive Manufacturers, Hyundai Motor India Ltd, Mahindra & Mahindra Ltd, Tata Motors Ltd, Honda Cars India Ltd, Toyota Kirloskar Motor Pvt Ltd, Volkswagen India Pvt Ltd, Renault India Pvt Ltd
Scope of the Report
– The Indian automotive industry has shifted from just being a components manufacturer, to an assembler and manufacturer of complete vehicles, including passenger cars.
– India is also a major exporter of automotive parts, components, and assembled vehicles to countries in the Middle East and Asia, which is expected to continue to be a major contributor to the Indian automotive industry’s revenue.
– With the growing presence of international automobile manufacturers and brands in the country, and the consumers ability to purchase new cars and maintain those, the consumers have been willing to buy more than one passenger cars to suit their various daily needs and travel purposes.
Key Market Trends
Growing Auto Component Industry
The Union Budget of 2018-2019, proposed an increase in the basic custom duty on completely knocked down (CKD) imports of motor vehicles from 10% to 15%. It also proposed an increase in the minimum support price of all crops to 1.5 times of the production cost, which in turn, may aid in the rise of agricultural income, thereby, benefitting the demand for passenger cars among the consumers, especially for the entry-level cars. This, in turn, is expected to support the domestic auto component manufacturers and the passenger car market.
Gradual Shift in Focus toward Electric Passenger Cars
Sales of electric cars in India decreased during FY 2017-2018, as compared to that in FY 2016-2017, recording a decline of 66%. In order to boost the sales of electric cars, OEMs have been collaborating with battery technology suppliers to develop long-range cars. Additionally, in order to support electric cars sales, the Indian government announced subsidies on the purchase of new electric cars. Currently, Mahindra & Mahindra and Tata offer electric vehicles in the Indian market. Maruti Suzuki is testing its first EV, the WagonR.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: India Passenger Car Market Outlook Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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