Automobile
@ZibiGroup
All businesses engaged in the production of automobiles or its components, including the majority of parts like engines and bodywork but omitting tires, batteries, and fuel. Light trucks and passenger cars are the main products of the sector.
The automotive business is changing as a result of emerging technologies including wireless charging, AI connection, autonomous driving, robot taxis, electric commercial vehicles, and diversified mobility.
Market size:
The Indian automobile industry is estimated to have reached a market size of approximately ₹9.45 lakh crore (INR 9.45 trillion) in 2023. For the period of 2023-2024, the industry is expected to continue expanding, driven by factors such as increased demand for passenger vehicles and commercial vehicles, as well as rising adoption of electric vehicles (EVs). With a positive outlook, the market is projected to grow at a CAGR of 8.1% through 2030
Challenges:
⦿ Supply chain distribution
⦿ Rising cost
⦿ Shifting consumer preferences
⦿ Infrastructure needs.