Present Status & Future of Automobile Industry in India

Author:Jyoti Singha, K. K. Vermab*

Abstract:
Automobile Industry plays an important role in the economic development in our country. Automobile Industry comes at fourth place in the world Automobile Sector in the term of sale of vehicles. The data of production and market sale (Domestic sales and Export) of different types of vehicles i.e. passenger, commercial, three-wheeler, two-wheeler, and quadricycle for seven years i.e. 2015-16 to 2021-22 were analysed with the help of multiple regression analysis, then we found that there is good relationship between export and production and domestic sale of vehicles. Domestic sales and production of vehicles are good variant to forecast the export. The production of different types of vehicles was decreased from 5.46 percent during 2015-16 to 1.23 percent in the year2021-22.It is also seen from the analysis that domestic sale also decreases from 85.23 percent to 76.37 percent in the study periods. However, the export of the mention vehicles was increased in the positive trend i.e. 15.17 percent to 24.49 percent of the study period. This study is based on secondary data which were collected from SIAM website of Automobile sector. The compound annual growth rate was computed and prediction of production, domestic sale and export were estimated next seven years i.e. 2022-23 to 2028-29.We found that there is decreased in the growth rate of export of vehicles, it’s main reason is impact of covid-19.

Keywords:Key Words: Growth, Automobile, Production, Domestic sales, Export Trend, Compound Annual Growth Rate (CAGR), Regression Analysis.

DOI:10.46333/ijtc/11/1/23

International Journal of Trade & Commerce (Vol: 11 Issue:1)