In the Indian automotive industry, opportunities and risks are present alike. At one end if the growth opportunities are increasing with technological advancements, on the other end, risks are approaching even faster with high inflation. The only thing that can balance the scale of opportunities and risks is the unshakable power of the car manufacturers.
In the present scenario, if you check, there are enormous possibilities for profitable growth of the car industry. The industry will grow, if certain steps could be introduce such as fuel economy engines, alternate fuel, and refurbishing the structure according to the need of the customers. Even government can help to a great extent in improving the depressing condition of industry.
Car manufacturers can even gain business margins by executing effective marketing strategies. Marketing is the core of every business and if this is strong nothing can hold the industry from flourishing.
In the same time, massive number of risks and obstacles are blocking the path of industry growth. Are these obstacles so strong to be broken down? Are Indian car manufacturers so weak to fight the battle? There is nothing that we Indians can’t do.
The current condition is comparatively tough with the highest inflation of about 11.63%. Fuel prices are soaring higher and higher along with the rise in interest rate. But the car manufacturers have also challenged this high inflation. They are coming out with offers, discounts, vouchers and are absorbing a high portion of the input costs in order to boost the sale.
The first few weeks after the rise in fuel price were really tough for them but eventually they have moved ahead with high hopes and expectations. Amidst this backdrop, Indian auto industry is accomplishing the business by adapting new strategies like reducing costs, making more fuel efficient engines, and managing inventory.
Labels: Changing-Car-Market, indian-Automobile-Industry
2 Comments:
I know its really a tough time for the car makers. But they are handling it real well. so this is one thing good about the car manufacturers. Definitely even i would think a lot to go for a car at this stage. High fuel prices, inflation, high interest rates, etc. Its better that these car makers come with much fuel efficient cars. As the major reason why they are not going for it is its not because they dont want to buy cars. But the reason being who will shell so much money on the fuel. so it is better to come out with alternative sources also
I completely agree definitely car makers are taking good steps to promote their cars in the market irrespective of the increasing fuel prices, inflation and mounting steel prices. But that is very true that without Indian government support its very dificult to move ahead. I have been reading a lot that the car manufacturers are coming out with electric cars, and even Tata is also coming out with its Air car. This is a good initiative from the auto makers side.
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