The first car made its debut in India in 1898 and from there started the journey of Indian car market. Though at the beginning, the car market did not have a good business but it slowly started growing with the participation from the government with policies.
The liberation policy of the Indian government attracted various foreign investors to come in and invest bigheartedly in the automobile market. The cut in the rate of small car duties has also encouraged a momentous boom in the Indian car industry. With the growing demand, car trend in every segment and with every car brands, our country is not far away from being the third largest car market in the world after China and USA. Indian car industry has seen a brighter outlook to grow in India today when compared to in the past with some adverse government issues.
The economic growth in the GDP (Gross Domestic Product), per capita income and high ownership capacity are the results of several foreign car manufacturers entering India. This has in turn led to an important growth in the lifestyle of the people. The high standard of living has given the car market an attention, which growing with time and is sure to raise newer heights in the future.
The Indian car market has come a long way and with their products are greatly appreciated globally. The other causes for the car industrial growth in India are the cracking of the geographical limitations through the interference of media. Awareness to the greater world has given people a thought and a craving for owning cars, which are technologically modern, technically better and positively improved.
The Indian car market is growing in a good pace. The foreign car manufacturers see a great potential for their products in India, which leads to the launch of more and more models, setting up new plants in India. The Indian car industry is crowded with all varieties of car models like the small cars, mid-size cars, luxury cars, super luxury cars, and sports utility vehicles. The king of yesteryear that ruled the Indian roads for some time was the Ambassador. Now we have numerous new car models like Maruti, Fiat, Hyundai, BMW, Honda, Mitsubishi, Mercedes Benz and many others.
Hindustan Motors, Hyundai Motors India Ltd., Reva Electric Car Co., Honda Siel Cars India Ltd Fiat India Private Ltd., Daimler Chrysler India Private Ltd, Ford India Ltd., General Motors India, Skoda Auto India Private Ltd., and Toyota Kirloskar Motor Ltd are some of the car brand that shines on the Indian roads. Compared to earlier, the luxury car markets also gained importance in India. Some of the major super luxury car players like Aston Martin, Ferrari, and Rolls-Royce, have long since made a foray into the Indian car market.
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