Implementation of the Auto policy together with robust economic growth and globalisation encouraged rapid growth in domestic demand for automobiles. The Indian automobile sector registered a growth rate of 10.8% during 2008-09 to 2013-14. Several international players have ventured into India and established manufacturing facilities.
The production of passenger vehicle stood at around 3.07 million units in 2013-14, registering a growth rate of 6.9% per year since 2009-10.
Passenger cars with engine size less than 1400 CC and length of vehicle less than 4000 mm are categorised as hatchback models. Hatch back models are the leading segment accounting for around 87% of the passenger car sales in India. Micro, mini and compact cars are popular hatchback categories.
Utility vehicles have undergone extensive design transitions in component weight and fuel efficiency over the years. Sales of utility vehicle stood at around 5,54,000 units in 2014-15, registering a growth rate of around 5.3% year-on-year.
Multipurpose vehicles are broadly grouped as V1 category vehicles that have hardtop and are used for personal transport and V2 category vehicles which include vans with soft tops used as maxi cabs. The market for vans stood at around 171,000 units during 2014-15, a decline of around 10% year-on-year. Vans used for personal transport accounted for around 52% of total van market.
The unorganised segment accounts for a significant share of the used passenger vehicles market. The used car market was pegged at around 3.5 million units during 2014-15 and growing at a rate of around 15% annually. MarutiTrue Value, Hyundai H Promise, Mahindra First Choice Wheels and TATA Motors Assured, Honda Auto Terrace, Ford Assured and Toyota U Trust are some of the renowned organised players in this segment.
Implementation of the Auto policy together with robust economic growth and globalisation encouraged rapid growth in domestic demand for automobiles. The Indian automobile sector registered a growth rate of 10.8% during 2008-09 to 2013-14. Several international players have ventured into India and established manufacturing facilities.
The production of passenger vehicle stood at around 3.07 million units in 2013-14, registering a growth rate of 6.9% per year since 2009-10.
Passenger cars with engine size less than 1400 CC and length of vehicle less than 4000 mm are categorised as hatchback models. Hatch back models are the leading segment accounting for around 87% of the passenger car sales in India. Micro, mini and compact cars are popular hatchback categories.
Utility vehicles have undergone extensive design transitions in component weight and fuel efficiency over the years. Sales of utility vehicle stood at around 5,54,000 units in 2014-15, registering a growth rate of around 5.3% year-on-year.
Multipurpose vehicles are broadly grouped as V1 category vehicles that have hardtop and are used for personal transport and V2 category vehicles which include vans with soft tops used as maxi cabs. The market for vans stood at around 171,000 units during 2014-15, a decline of around 10% year-on-year. Vans used for personal transport accounted for around 52% of total van market.
The unorganised segment accounts for a significant share of the used passenger vehicles market. The used car market was pegged at around 3.5 million units during 2014-15 and growing at a rate of around 15% annually. MarutiTrue Value, Hyundai H Promise, Mahindra First Choice Wheels and TATA Motors Assured, Honda Auto Terrace, Ford Assured and Toyota U Trust are some of the renowned organised players in this segment.