Indian Automobile Market Sees Tremendous Growth

By Suparna Chakaraborthy

Published: Thursday, May 20, 2010, 16:56 [IST]

Liberalisation of the Indian economy in 1991 had put the Indian automobile industry on a new growth tragectory. It attracted international giants to set up their production facilities in the country. Today, India has one of the fastest growing automobile industries in the world.

Currently, the auto market of India is the seventh largest in the world.

By 2008, the production number reached approximately 2.3 million units. These included both, passenger vehicles and commercial vehicles. The passenger vehicles constituted about 80 per cent of the total sale of the automobile industry. In 2009 the annual production crossed 2.6 million units.

The analysts believe that by 2030, the Indian automobile market will be one among the top five global markets.

The recent launch of Tata Nano has brought a new revolution in the country's small car segment. Seeing the good response of the customers, many other automobile players in the market are eyeing the small car sector of the Indian automobile market.

The top ten automobile manufacturers in India are: