India has become the fourth largest automobile market in the world.
Passenger vehicles accounted for 13 percent, commercial vehicles 3 percent, three-wheelers 3 percent and two-wheelers 81 percent of the market share in FY18. The auto industry in India has shifted focus towards the BS-VI norms from the earlier BS-IV norms. Slowly and steadily, it is moving towards development of electric vehicles, which is expected to be one of the biggest transformations of the automobile industry in India. However, this phase has long way to go and, in the meanwhile, in FY18, the auto industry recorded some milestones. In FY18, the highest ever production was witnessed in the passenger and utility cars segment. Also, the highest ever sales in passenger vehicles was recorded in FY18, despite the GST implementation. The two-wheeler production rose by 16.1 percent in FY18 and highest ever sales and exports was recorded in scooters and motorcycles segment. The three-wheelers’ production and sales too were the highest ever recorded in FY18.
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