Automobile Business in India

June 15, 2012

Automobile Business in India

Personal vehicle has become an important for respective life and everyone wish to have private vehicle. Huge development has been noticed in the automobile market of India and from most luxury to cheapest model Tata Nano is available in the market. Indian automobile industry has metamorphosed into a great business since the earliest car ran on the streets of Bombay in 1898. At present, automobile sector is playing most key role in providing employment to the people. Directly and indirectly it is offering job to more than 10 million people and if we insert the number of people working in the auto-component and auto subsidiary industry then the number goes even at high level.

The vehicle industry lists heavy models includes the trucks, buses, tempos, tractors, private or commercial traveler cars and two-wheelers. The car sector in India experience a metamorphosis as a effect of the freedom policies by the management since 1991 which included reduction of the foreign exchange and equity regulations, drop of tariffs on imports, and refining the banking policies.

After the car industry opened to straight investment from foreign countries in 1996, global automobile business majors moved in. Automobile industry in India also expected enhances from strict government auto discharge regulations from last many years. This guaranteed that automobile manufactured in India matched to the standards of the urbanized world.

Indian auto industry has also turn into an out sourcing hub for vehicle companies worldwide, as indicated by the burning automobile exports from the country. Today, GM, Ford, Hyundai, Honda, Mitsubishi and Toyota India have started their manufacturing plants in India.

Due to fast economic growth and higher non-refundable income it is supposed that the success story of the Indian car industry is just beginning. Factors affect the growth of the auto business include sales incentives, introduction of new models as well as variants and easy accessibility of low cost finance with relaxed repayment options persistent to increase demand and sales of automobiles. Used car classifieds are putting their best efforts in promoting sale and purchase of second hand cars. This business is on high pitch from the small cities to metropolitan cities.

Anjali Singh is an author for Freeads Classifieds. Freeads Classifieds gives a one-stop solution for all your free ads. The team of free ads Classifieds in India helps you find the right and legal track to the land of your dreams worldwide.

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