Indian automobile industry recently overtook Brazil to become the world’s sixth largest manufacturing nation for the automotive sector. The market is growing at a fast pace in the country, which has encouraged some of the biggest names to invest in the Indian Subcontinent. As per the figures given by Society of Indian Automobile Manufacturers (SIAM), India’s annual vehicle sales are expected to touch 5 million by the year 2015. All kinds of vehicles find a market in India, from world's cheapest car to the most expensive one.
The nation is home to Nano, called the people's car, which is manufactured by Tata Motors. The company started selling the Nano in March 2009 and since then it has been able to sell a fair number of units in the market, and given a personal vehicle to those who had not dreamt of owning a car. Financial Times in year 2008 reported, “If ever there were a symbol of India’s ambitions to become a modern nation, it would surely be the Nano, the tiny car with the even tinier price-tag. A triumph of homegrown engineering, the Nano encapsulates the dream of millions of Indians groping for a shot at urban prosperity."
The Indian buyers are not solely dependent upon Tata Nano as Maruti Suzuki 800 and Hyundai Eon give competition in its segment. Likewise, Maruti Suzuki Swift, Hyundai i10, Chevrolet Beat, and Toyota Etios Liva are some of the A2 segment models that have been able to entice majority of Indian buyers.
In the A3 segment, Maruti Swift DZire, Honda City, Skoda Rapid, Nissan Sunny, Toyota Etios, Volkswagen Vento, Hyundai Verna and Maruti Suzuki SX4 are the best known names. Likewise, Toyota Corolla, Honda Civic, Chevrolet Optra and Skoda Octavia are some of the recognisable A4 segment cars. Among the prominent names in the A5 segment are, Mercedes-Benz E-Class, Skoda Superb, Honda Accord and Toyota Camry.
India has recently seen a surge in the demand for passenger utility vehicles. Mahindra XUV500 and Scorpio are the most popular Sports Utility Vehicles in the country right now, followed by Tata Safari. Similarly, Multi-Utility Vehicles and Multi-Purpose Vehicles like Toyota Innova, Tata Aria and Mahindra Xylo are gaining market share.
BMW, Mercedes-Benz and Audi are the premier manufacturers that develop luxury cars in India, with Lexus expected to join the fray in 2013. Rolls Royce, Bentley, Aston Martin, Maybach, Jaguar and Land Rover also find their respective places in the Indian market.
Even sportscars are not too far in India, with Ferrari, Lamborghini and Bugatti being the premium names. Bugatti brought its latest offering, the Veyron 16.4 Grand Sport to India, when it launched the car at Rs. 16 crores worldwide. The high end car manufacturer found a buyer in Mumbai soon after showcasing the vehicle.
Guy Caquelin, Bugatti Automobiles Sales Market Manager (India, Middle East and Europe), stated, "Bugatti has been doing well in America, Europe and the Middle East. Now we see India as an emerging market for us, hence we have decided to bring the car to India." Considering the optimising of the auto industry, it certainly seems that there is a market for all car makers in India.
