Robust economic growth over the last two decades has driven India from being an importer of automobiles to a leading manufacturer and exporter of vehicles and their components. The automotive industry’s growth has resulted both in capacity expansion and employment generation, and it is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.05% till 2026.
However, currently, a long-term visibility of automotive regulations is required to avoid uncertainties on the technological requirements in future, including the substructures of testing and skills. The Indian standards are also required to be harmonised with global benchmarks for mutual recognition and quality standards of products.
This report captures the sales trend in the automobile industry from July to September, the impact of digitalisation on it, and covers various top stories and headlines that the industry made in the quarter.