The automobile industry is one of the primary economic foundations with strong forward and backward linkages. The sector is significant in determining a nation’s economy and overall development. It is a crucial part of the economy because of its considerable impact on several other industries. The need for numerous raw materials, including steel, rubber, plastics, glass, paint, electronics, and services, is indirectly increased by the significant increase in automotive production. The money made from these industries also helps strengthen the economy’s overall growth.
Regarding the usage and production of vehicles, the Indian automobile industry is one of the largest in the world. Regarding the origins of the Indian automobile industry, a truck driven in Mumbai in 1887 was the country’s first automobile. Indian history entered a new era due to the makers of that sizeable commercial vehicle. India lacked a manufacturing base and imported all of its automobiles directly from abroad. The first car built in India rolled off the assembly line on December 4, 1928, when General Motors India Ltd. started building trucks and cars in its factory in Bombay. Ford Motor Co of India Ltd started assembling cars in Madras two years later. The following year, it expanded to Bombay and Calcutta.
An embryonic automotive industry emerged in India in the 1940s. The Hindustan Ambassador, which was largely based on the UK’s Morris Oxford, was the first car made in India. The HM Ambassador was created in Calcutta with a technical partnership with Morris Motors, which produced Morris Oxford vehicles. Around the middle of 1957, the first Ambassador rolled off the production lines.
To support the automotive sector after India gained independence in 1947, the government of India endeavored to establish a manufacturing industry for automotive components. The early years of the industry, between 1940 and the late 1950s, saw the formation of numerous new businesses to manufacture automobiles. Very few of these businesses managed to withstand the government’s requirements. Due to the government-imposed license raj, a sizable portion of the private sector in the emerging industry was eliminated. The government took a socialist stance toward development; therefore, the auto sector did not initially challenge a lot of competition. The industry suffered losses due to low sales of the same car models due to a lack of competition. The industry’s expansion during this time was prolonged due to the nation’s poor economic situation.
The growth rate saw a few variations between 1970 and 1980 as new industries entered the market with fresh ideas. This helped the market and accelerated the industry’s expansion. With the introduction of the new line of commercial vehicles, businesses like Telco (now owned by Tata Motors), Ashok Leyland, and Bajaj Premier entered the market. The market had never before experienced such a rise. This increase also impacted the national economy. This signaled the beginning of a new sector for profit-making in the Indian economy, which would later develop into a significant component of the economy.
There are two categories of products in the automotive industry. One is a passenger vehicle, and the other is a commercial vehicle. The vehicle market expanded between 1980 and 1990. Small and medium-sized businesses entered the rapidly increasing need for auto components as local demand for motorbikes and passenger automobiles grew to start in the 1980s. The Indian automotive industry experienced a sea change in the passenger car market in 1983. Before the turning point, automakers tended to manufacture their parts and components.
Because of the low manufacturing volume, economies of scale were not practical. Many small businesses outsourced minor parts and components. A few groups of auto component makers, like the TVS group, developed innovative technologies through international and technical collaboration. However, because of the lack of competition and the slowly expanding market, technology in the auto component business did not advance quickly.
Maruti began operations by completely disassembling imported components and then quickly increased output. It purchased from local vendors since it had to improve local content and execute a phased production approach. Suzuki sent employees from its Japanese contractors to India. A few joint ventures between Japanese and Indian businesses were founded to supply it with essential parts and components. Joint venture purchases were included in the calculation of the local content. The opportunity to provide Maruti was also given to significant current Indian and global auto component makers. To reach the goal of indigenous content, it had to assemble vendors from all over India. These vendors bought parts and materials from tier two vendors or other subcontractors.
Some collaborative ventures were established in the two-wheeler market, and some Indian businesses collaborated technically. The first multinational company to enter the Indian market was the Japanese. They found a joint venture with Indian companies and got to work on the production. It marked the beginning of one of India’s top vehicle manufacturers, Maruti Suzuki. The monopolistic nature of the passenger car market enabled Maruti to grow its suppliers. It was eager to recruit subcontractors, providing financial and technical support to extend its supply chain. Subcontractors were reviewed frequently regarding cost savings, product quality, and turnaround time. Depending on the outcomes, it modified the order distribution to their subcontractors.
Following economic changes in 1991, industrial licensing was eliminated, and foreign direct investment was liberalized. Increased domestic and foreign automakers have entered the passenger car and auto part markets. Some international automakers sent their suppliers to India to supply them with vital parts. In 1996, Hyundai opened an assembly plant. While it brought 17 Korean subcontractors, it first made purchases from local businesses. Despite the growth of the domestic market, the auto and auto component sectors faced intense rivalry.
Exports of cars were very slow during that time as the production process grew more vital in the early 2000s. The alliance introduced some new changes to the market. Maruti Suzuki started shipping cars to the major European markets as one of the most popular automakers. The growth rate went up even further as new models hit the market. Numerous vehicle manufacturers produce both types of products. India’s government enacted obligatory emission standards during the same decade to lessen car pollution. Since these criteria were based on stringent European norms, the amended regulations went into effect in the major cities.
Due to the presence of practically all major corporations, the Indian automobile sector has advanced significantly over the years. India has developed into a hub for automakers to set up their factories to produce vehicles for domestic and foreign markets. The three key areas where the majority of the Indian auto sector is concentrated are the south, west, and north. Chennai is the southern area’s automobile production hub, followed by the Mumbai and Pune region. The NCR accounts for a fair amount of the production facility concentration in the north.
In the automotive industry, increasingly complex and exciting techniques are being applied. Over the years, technology has advanced, leading to automated manufacturing. Modern technologies have sped up construction, decreased costs, and improved efficiencies.
The laws governing goods import and export were still in place, making it difficult for international competitors to enter the market. Few more reforms enhancing foreign trade were introduced between 1995 and 2000. This signaled the industry’s turnaround. The adjustment accelerated the industry’s growth to exceptional heights. Both indigenous companies and foreign companies have expanded internationally. The domestic companies grew their export trade with numerous Middle Eastern nations, including Bangladesh, Sri Lanka, and many more. India extended its doors to the world market and developed into a potential hub. During this time, India started to become a significant global market.
The major international brands, including Mercedes Benz, General Motors, Volvo, Ford, etc., have joined the Indian market. Most of these businesses formed joint ventures with Indian enterprises to establish a foundation and generate first revenues that were highly profitable. Popular joint ventures include Renault and Mahindra, Hero and Honda, and Kawasaki and Bajaj. Numerous additional businesses established manufacturing facilities there and began undertaking significant productions.
With new models in the compact car industry, companies like Hyundai have significantly increased their market share. The market expanded due to the increasing competition. The Indian automotive industry’s growth rate reached a high of 20%. According to data, India surpassed other countries as the world’s top producer of two and three-wheel vehicles in 2008. Tractor production in India is ranked second worldwide.
The number of two-wheelers shipped from India during the fiscal year 2021 was over three million. This is a slight increase over the prior year following a long stretch of two-digit growth rates. Exports of three-wheelers, quadricycles, passenger cars, and commercial vehicles decreased. The primary factor behind a drop in exports seems to be the coronavirus pandemic’s effects, particularly on the car industry.
Four percent of India’s GDP and five percent of its industrial production come from the automobile industry. The government’s deregulation policies are one of the leading causes of the sector’s explosive expansion. The industry’s success is a result of favorable policy initiatives like the loosening of foreign exchange and equity laws, reductions in import tariffs, and banking liberalization that have led to a surge in financing-driven purchases and convenient EMIs.
The Indian customer now has abundant options due to several multinational brands joining forces with native producers. Today, they have access to a vast selection of domestic and international goods. Major Indian companies include Maruti, Tata Motors, Mahindra, Ashok Leyland, TVS, Hero Honda, and Bajaj. India’s leading multinational automobile manufacturers include Toyota, GM Honda, Daimler Chrysler, Ford, Volvo, and Hyundai Suzuki. However, despite the existence of foreign brands, domestic businesses continue to dominate the market. The top rankings for passenger and commercial cars, respectively, are shared by Maruti and Tata automobiles.
Due to the rise in automobile use and rising opposition to road construction, our highway systems are now crowded and out of date. New electronic vehicle technology, however, may eventually make it possible for cars to avoid traffic and even drive. By giving computers control of our vehicles, they would be able to more efficiently utilize the limited amount of highway space by gathering data on traffic congestion from the road and determining the quickest path to their intended destination. Electric automobiles will eventually become widespread because of a particular link between circumstance and talent. The pattern of global transportation that will carry us into the twenty-first century will shift due to rising intolerance for pollution and incredible technological developments.
Companies that work in the automotive manufacturing industry are referred to as automotive companies. Establishing these businesses might be viewed as a development that will enable the businesses to keep up with future advancements. Companies are in fierce competition with one another, which has led to increased efficiency and the emergence of new technology. Better manufacturers will compete in the market and sell more technologically advanced and pleasant vehicles. Along with having the most significant automakers, the top businesses also have the best systems to ensure that they have the best branding and marketing strategies.
Many businesses employ technical innovations and progressive ideas to sell their goods and establish themselves as market leaders. They are regarded as some of the greatest producers in the world and continue to be active in the market. They create something new or improve upon what they already have every time. Mahindra & Mahindra, Tata Motors, Force Motors, Ashok Leyland, Tractors and Farm Equipment Limited, Royal Enfield, Eicher Motors, Sonalika Tractors, Hradyesh, Hindustan Motors, ICML, Kerala Automobiles Limited, Tara International, Pravaig Dynamics, Reva, Premier, and Vehicle Factory Jabalpur are currently among India’s primary automobile manufacturing companies.
In the past 20 years, the Indian auto industry has experienced spectacular expansion. This is the result of several favorable conditions coming together. A dramatic increase in demand has considerably benefited the automobile sector, which has increased capacity, improved facilities for research and development, technological advancements, and distribution arrangements across the nation. The country’s present market situation shows that domestic and international businesses hold about equal market shares. The spectacular rise of the Indian auto industry has been facilitated by the convergence of governmental policy, economic growth, and consumer power. Below are some of the crucial growth drivers highlighted:
● Demand-Related Factors – The cost of labor, equipment, and materials, exchange rates, preferences, the operating cost of a vehicle, income, interest rates, scrapping rates, and product innovation, are factors influencing demand for this industry.
● Affordability – How much new cars cost depends on income and interest rate changes. Unrestricted Foreign Direct Investment (FDI) was permitted, which increased competition in the domestic market and resulted in the availability of better automobiles at lower prices. Product innovation is a significant factor since it enables the production of environmentally friendly cars and makes improved models available each year.
● Demographics – It is obvious that India’s enormous population has been one of the critical factors in the country’s large automobile sector. Population growth and the number of young people who are more likely to use and replace cars in the population are two factors that could increase demand. Additionally, a rise in those less dependent on the conventional single-family income structure will probably boost demand for vehicles.
● Exchange Rate – The rupee’s value fluctuates, affecting both the price of imports for home use and the appeal of Indian goods abroad.
● Infrastructure – Infrastructure growth in India is one of the longer-term drivers of demand. A fund for infrastructure improvements with a cap of USD 3 billion has been formed by Australia’s Macquarie Group and India’s largest bank, State Bank of India. India must invest approximately $500 billion to fix its power plants, ports, and other infrastructure. With these investments, the car, power, and telecom industries hope to produce long-term cash flow.
● Petrol Price – Changes in oil costs also impact the demand for large cars in India. The need for large cars decreased in favor of smaller, more fuel-efficient vehicles during times of high fuel prices, as seen in 2007 and the first half of 2008. Tata Motors’ Nano, one of the world’s smallest and most affordable automobiles, was introduced due to shifting consumer tastes toward smaller automobiles that use less gas.
Better methods for making motor vehicles have emerged as a result of advancements in the usage of computers in this industry. Numerous advantages have resulted from the switch from outdated to modern technology. Some benefits include quicker product production; they are effective and practical and enable product modification following standards.
To name a few of the industry’s admirable achievements, in 2009, India overtook Japan, South Korea, and Thailand as the fourth-largest exporter of passenger automobiles. In contrast, India replicated its 2009 record in 2010 to rank third among auto exporters.
The Indian automotive market has grown to rank among the biggest in the world. It has advanced significantly since its modest beginnings, to remain at the top for many years. Its lengthy past is filled with fascinating but little-known accounts of growth and hardship. Here are a few fascinating industry-related facts:
The Hindustan Ambassador, a first-generation automobile primarily based on the UK’s Morris Oxford, was the first vehicle produced in India. Through a technological partnership with Morris Motors to create Morris Oxford models that would subsequently become the HM Ambassador, it was constructed in Calcutta. Midway through 1957, more than 70 years ago, the first Ambassador went off the assembly lines.
In 1965, Standard produced the first convertible in India using the Triumph Herald platform. More and more components were produced locally during the years, resulting in the Standard Herald Hardtop convertible.
The Tata Indica was the country of India’s first locally produced automobile. It was introduced amid a great uproar at the 1998 Geneva Motor Show and traveled to the Indian Auto Expo the following year. In 1999, the Tata Indica was released on the market. Even though it is no longer manufactured, the Indica is nevertheless significant since it signaled India’s entry into the global market for passenger vehicles.
The grandpa of the person who went on to create the first indigenous car in India was the first Indian guy to acquire a vehicle. Nevertheless, Englishman Mr. Foster of Crompton Greaves was the owner of the first automobile to enter India in 1897. Jamshedji Tata became the country’s foremost auto owner the following year.
When the Maruti 800 was introduced in 1983, it changed the direction of the Indian automobile industry and evoked many emotions and stories. The original vehicle, code-named the SS80, was based on the 1979 Suzuki Fronte and had an 800 cc F8B engine. It was marketed as an ordinary person’s car that was ideal for Indian traffic and narrow roads. Former Prime Minister Indira Gandhi presented the first vehicle to Mr. Harpal Singh, who had won the privilege of keeping it in a lucky lottery. The 800 MPFi was the only model available at launch whose needle could go above the speedometer’s maximum limit, making it the most excellent automobile ever.
It’s a common misconception that the first racing competition in India took place at Chennai’s Sholavaram track sometime after independence. The first known motorsport competition was an 11-car endurance drive between Kolkata and the nearby town of Barrackpore on August 28, 1904, in Calcutta. This represented 20% of all the vehicles on the road in Calcutta at the time.
After renting an 11,071 square foot facility at Mazgaon from British India Steam Navigation in 1949, Mahindra & Mahindra became the first company in India to produce Willy’s Jeep. At the Mazgaon, Bombay, Assembly Plant, the first Willys Overland Jeep was made in India.
One could assume that the first Indian electric car was something that occurred recently, given the buzz that the electric revolution in India is only now starting to gather traction. Only three years after India’s first locally made car was introduced in 2001 did the country introduce its first domestically produced electric vehicle? The Maini Reva, designed and built in Bangalore by Chetan Maini, did not sell well in India but did better than the G-Wiz in the UK.
The manufacturing, distribution, selling, and maintenance of automobiles are all included in the automotive sector. The automobile business in India is a significant source of employment there. Currently, it employs 19.1 million people directly or indirectly; by 2016, that number is expected to triple. Manufacturing in OEM, auto parts, raw material factories, car dealers, service facilities, and other enabling industries are included in this. SMEs currently make up more than 70% of the car component businesses. Their expansion would be restricted by a lack of access to cash, a lack of technology, and excessive interest rates. The automobile industry employs 56 percent of the workers, which is second most behind the telecom industry.
Seventy-two percent of the 7.6 million manufacturing employees work in the component sub-sector. Most workers are employed in tier-III and raw material manufacturing firms, even in-car component manufacturing firms. Compared to auto OEM, auto component manufacturers have a faster growth rate and more muscular labor elasticity, which is the cause of this increase. It is anticipated that by 2022, 80 percent of workers will be employed by companies that make vehicle components, up from the present 72 percent.
The anticipated baseline employment for each sub-sector is based on initial conversations with industry experts and secondary research from industry organizations. Thirty-eight million people are anticipated to be employed in this industry by 2022. Indirect employment, projected to increase to 68 percent of total work, has a greater rate of incremental jobs.
Historically, the health of the Indian economy has been well-reflective by the performance of the car industry. Future market growth is anticipated to be fueled by emerging trends, including the electrification of vehicles, notably three-wheelers and small passenger automobiles.
Digitalization – Customers’ preferences for interaction and decision-making have drastically changed over the past two years. As a result of consumer acculturation to doorstep deliveries brought on by rising digitalization, more and more businesses are adopting a digital-first strategy. Automobile purchases are also expected to see the penetration of this trend in the upcoming years, even though it is already common for consumer items and groceries.
Electric vehicles – The EV market in India is undergoing significant disruption. All vehicle sectors, including luxury cars, small SUVs, and two-wheelers, have seen a growing market share for EVs. But consumers are showing more interest in and adopting the two-wheeler EV category globally.
Vehicle hybridization – The popularity of hybrid cars is skyrocketing right now. Because EV infrastructure is still in its infancy, a hybrid vehicle is a suitable replacement for the internal combustion engine. Numerous advantages of a hybrid car include its high fuel efficiency, reduced carbon footprint, regenerative braking system, and high market value. Due to the expensive cost of the technology, adoption has been somewhat slow so far. OEMs are placing large bets in the market through fresh releases and attractive pricing.
Increasing interest in CNG vehicles – Nationwide demand for CNG vehicles has increased due to rising fuel prices and a lack of EV charging stations. According to Bank of America, CNG penetration climbed from 6% in FY21 to 9% in FY22 in the PV category. With superior fuel economy and lower operating costs than gasoline, it is also more cost and environmentally friendly to use CNG in vehicles. It is almost half the price of gas. Some significant OEMs have moved their focus to CNG-equipped vehicles as more consumers opt for passenger cars in the mid-price range.
Artificial Intelligence – Robotic automation in the automobile sector uses artificial intelligence technologies, including machine learning, deep learning, and computer vision. These direct autonomous vehicles control fleets, help drivers be safer, and enhance vehicle inspection and insurance services. AI is used to produce automobiles, where it lowers costs and speeds up production.
These new developments, combined with encouraging government initiatives and laws, are expected to revive the expansion of India’s automotive industry. Developing sustainable manufacturing techniques and creating job possibilities within the automobile industry can be aided by new and evolving technology. To meet customer expectations and stay competitive, it is crucial for the industry, including OEMs and the supply chain, to keep track of these new trends.
With 13 million vehicles produced between April and October 2021, India had 22.65 million cars annually in FY21. Since a large portion of India’s population is young and the middle class is expanding, the two-wheeler category dominates the market in terms of volume. Further supporting the sector’s expansion was the corporations’ rising interest in investigating rural markets.
The majority of cars sold in India are two-wheelers and passenger cars. Small and midsize automobiles are the most popular in passenger car sales. Over 17.8 million vehicles were sold in FY21, with around 81.21 percent being two-wheelers and 14.56 percent being passenger automobiles. Mercedes Benz was the most popular luxury car manufacturer in December 2021, with sales of 2,259 units, representing a YoY gain of 19.7 percent in the luxury automobile market. Production of all passenger vehicles*, three-wheelers, two-wheelers, and quadricycles totaled 1,860,809 units in January 2022.
India is also a significant vehicle exporter, and there are high hopes for future export growth. In 2022–2023, electric vehicle sales, particularly for two-wheelers, are anticipated to increase. Electric vehicle (EV) sales in Q3 FY22 hit a new high of 5,592 units. 329,190 EVs were sold in India in 2021, a 168 percent YoY increase from the 122,607 units sold the year before. Over the past few months, many automakers have been investing significantly in various business segments to keep up with the rising demand.
After recovering from the COVID-19 pandemic’s consequences, the Indian auto sector is predicted to rise rapidly. In addition, several measures by the Indian government and significant automakers in the country’s market are anticipated to position India among the world’s top two- and four-wheeler markets by 2022.
One of India’s earliest automobile manufacturers, it was established in 1942 by Mr. B.M. Birla. It has created models, including the Contessa and Ambassador. It has established Lancer by partnering with foreign firms like Mitsubishi and the US-based General Motors Corporation. In addition to this, the organization offers remarkable manufacturing data for cars, trucks, and other heavy machinery.
Premier Ltd is a Mumbai-based Indian automotive manufacturer that was established in 1944. The Premier Padmini, which dominated the Indian auto industry and reached its height of popularity in the 1970s and 1980s, is well known for Premier.
This company, founded in 1945, has given the Indian vehicle industry a cutting-edge dimension. It started by making all-purpose utility vehicles before diversifying into automotive, tractors, MSL, and inter-trade. Currently the most significant business in the private sector, it has a highly developed technology infrastructure and a highly-skilled workforce.
An operational subsidy of the Bajaj Group, it is one of the most reputable automakers in India. On November 2, 1945, this auto manufacturer was founded. The most significant two- and three-wheeler manufacturers in India are Bajaj Auto, a global leader in this industry. During that time, the business was known as M/s. Bachraj Trading Corporation Private Limited. The business started small by importing and selling two- and three-wheelers in India. Today, the name Bajaj Auto is synonymous with two and three-wheelers in the nation.
With the goal of producing locomotives and other engineering goods, Tata Engineering and Locomotive Co. Ltd. became Tata Motors in 1945. Its primary products are passenger cars, light commercial vehicles, multi-utility vehicles, and everything in between. The company is the market leader in the production and selling of commercial vehicles. Tata passenger cars are well-liked throughout the nation and renowned for their high design standards, quality, and dependability.
One of India’s top producers of commercial vehicles is Ashok Leyland. It was founded in 1948. Over the years, the company has grown to be associated with manufacturing trucks, passenger buses, emergency military vehicles, Tractors, Cheetah Bus-III, Panther BS-II Multi-axle Vehicles, Ecomet Lynx BS-II Diesel, and Natural Gas Gensets from 15 KVA to 250 KVA are some of the company’s well-known products.
With headquarters in New Delhi, this Indian multinational automaker was established in 1948. It produces motorbikes and commercial vehicles. Royal Enfield, a firm that makes middleweight motorcycles, is owned by Eicher.
India’s largest van manufacturer, Force Motors Ltd, is situated in Pune. The business was originally a joint venture between Bachraj Trading Ltd. and Germany’s Tempo, hence the name Bajaj Tempo Motors from 1958 to 2005. Brands including the Tempo, Matador, Minidor, and Traveller are well-known under the company’s name.
Founded in 1978, TVS Motor Company is an international motorcycle manufacturer headquartered in Chennai, Tamil Nadu. With over 20,000 crores in revenue in 2018–19, it is the third-largest motorbike firm in India. With exports to over 60 nations, TVS Motor Company is India’s second-largest two-wheeler exporter. The TVS Group’s primary business in terms of size and revenue is TVS Motor Company Ltd.
Maruti is the biggest automaker in India because it was the first Indian company to produce affordable automobiles in partnership with Suzuki of Japan. The Indian government established Maruti Udyog Limited in 1981, but in October 1982, it merged with Suzuki, a Japanese vehicle manufacturer. The Maruti 800, the country’s first contemporary vehicle, is credited with starting an automobile revolution in India. The Zen, Maruti Omni, Wagon R, Baleno, and similar cars are just a few of the vehicles it has produced.
India’s Swaraj Mazda Limited is a car manufacturer that was founded in 1983. It makes vehicles for goods and people, including buses, ambulances, water tanks, trucks, and other types of cars. Swaraj Mazda is a joint venture between Swaraj Enterprise and Mazda of Swaraj, representing India’s best engineering and technology.
Under the name Hero Honda Motors Ltd, Hero MotoCorp Limited was founded in 1984. Hero’s motorcycles are long-lasting machines. Their main selling points are price and fuel efficiency. In India, the firm holds about 46% market share in the two-wheeler sector. Hero Moto Corp. was founded by Lt. Briaj Mohal Lal Munjal, who led the business to new heights. The corporation has never broken its fuel economy commitments.
KAL is a public sector auto manufacturer in Thiruvananthapuram, Kerala, India. It was established in 1984. The KAL manufactures and markets a variety of three-wheeler vehicles. KAL exports three-wheeled vehicles to Egypt. Its product category includes auto-rickshaws, pick-up vans, delivery vans, auto chassis, and hydraulic tippers.
Hradyesh is an Indian-based car manufacturer that specializes in creating luxury vehicles to order. It was established in 2011. Their “masterpiece edition” is Morris Street. The manufacturer stated that it was the priciest luxury vehicle ever produced by an Indian automaker.
Cars, trucks, two-wheelers, buses, and three-wheelers are all part of the Indian automobile sector, which is essential to the development of the Indian economy. India is Asia’s fourth-largest vehicle exporter, trailing only Thailand, South Korea, and Japan. The volume of goods and services produced that enable mobility and increase the sale of automobiles is a sign of this industry’s economic growth.
Currently experiencing great success, the Indian automobile sector tends to disguise the issues and obstacles that lie in its way of continued expansion. According to projections, India’s automobile industry will rank among the top three globally in engineering, technology, production, and exports by 2026. The sector’s growth is seriously troubled by poor road conditions, severe pollution, and numerous traffic-related accidents. However, the government is taking action to address these issues on several levels, and solutions are being developed steadily. By 2050, the sector is anticipated to have the highest automotive volume in the world, with 611 million vehicles on the nation’s roads.
