We have been getting continuous requests on the Production Statistics for the Passenger Vehicle Industry. We are happy to share the same in this report.
India has seen a tremendous influx of automotive manufacturing facilities since 2000 and has also made it a significant production hub for the global automakers. The cost competitiveness has enabled India to encourage OEMs to set up their plants to not only cater to the domestic market; but even exports as well. The option is so lucrative that General Motors even though has exited the Indian Market; still continues to export the Beat from the Talegaon plant in Maharashtra.
The investment trend still continues and OEMs are expected to invest over $8-10 billion (Rs 51,600-64,500 crore) in India over the next three-four years to set up factories in the sub-continent. It shall expand production base in a market that is set to become the third-largest for passenger vehicles by the end of the decade!
FY20 shall probably see 3 new OEMs stepping into the Indian market and set up their manufacturing units (Kia, MG & Citroen). The passenger vehicles industry currently has a production capacity of more than 55 Lakh, according to industry sources. Near to 40 Lakh units of Passenger Vehicles were manufactured in the previous financial year (FY19). The OEM-wise production statistics is as shown –
Owing to the dip in the domestic sales; the overall production too saw a decline and degrew -0.2% in FY19 v/s FY18. However; the biggest gainers were Tata & Honda who registered a double digit growth in FY19. We also have tried to collate the model-wise production statistics for clarity –