Of late, India has cemented its place as the hottest destination for auto makers across the world. Car manufacturers invested on the growing Indian car market and they are now reaping the harvest of their investments.
Japanese Suzuki Motor Corporation has emerged as the largest car maker of India with its Indian arm, Maruti Suzuki. Suzuki trebled its full-year global net income forecast on the back of strong Indian operations, despite sluggish sales overseas. While home market Japan as well as European countries contracted for Suzuki, India remained the only market to grow, with first half sales here moving up by 24 per cent at 4.7 lakh units against 3.8 lakh units in the corresponding period.
Ten year old Korean car company Hyundai follows the Japanese car behemoth in this regard. It has a capacity of producing around 6 lakh units, half of which service export markets. The company has earmarked India as one of the hubs for manufacture of models like i10, i20 and Santro and sells India-made cars to over 100 countries. While developed markets in Europe and US remain under pressure, operations in India have been gradually growing. The company's cumulative sales in January-October 2009 period have grown by 12 per cent year-on-year at 4.57 lakh units (4.07 lakh) with domestic sales up 11 per cent at 2.39 lakh units and exports up 13 per cent at 2.17 lakh units.
Honda too gets a sizeable portion of its revenues, sales and profits from its Indian subsidiary. It will bring its proposed small car for India by 2011. Beleaguered General Motors has its business flowing only in India in these hard times with its Chevrolet brand.
Volkswagen, Fiat and Ford are expanding in India. While Nissan and Renault are trying to establish a firmer grip in the market shares and are coming with a low-cost car.
Japanese Suzuki Motor Corporation has emerged as the largest car maker of India with its Indian arm, Maruti Suzuki. Suzuki trebled its full-year global net income forecast on the back of strong Indian operations, despite sluggish sales overseas. While home market Japan as well as European countries contracted for Suzuki, India remained the only market to grow, with first half sales here moving up by 24 per cent at 4.7 lakh units against 3.8 lakh units in the corresponding period.
Ten year old Korean car company Hyundai follows the Japanese car behemoth in this regard. It has a capacity of producing around 6 lakh units, half of which service export markets. The company has earmarked India as one of the hubs for manufacture of models like i10, i20 and Santro and sells India-made cars to over 100 countries. While developed markets in Europe and US remain under pressure, operations in India have been gradually growing. The company's cumulative sales in January-October 2009 period have grown by 12 per cent year-on-year at 4.57 lakh units (4.07 lakh) with domestic sales up 11 per cent at 2.39 lakh units and exports up 13 per cent at 2.17 lakh units.
Honda too gets a sizeable portion of its revenues, sales and profits from its Indian subsidiary. It will bring its proposed small car for India by 2011. Beleaguered General Motors has its business flowing only in India in these hard times with its Chevrolet brand.
Volkswagen, Fiat and Ford are expanding in India. While Nissan and Renault are trying to establish a firmer grip in the market shares and are coming with a low-cost car.
Labels: Chevrolet, General-Motors, Honda, Hyundai, Indian-car-market, Maruti-Suzuki, Suzuki-Motor-Corporation
2 Comments:
Its the strategy prevailing in the Indian market.Its 100% true!
Looks like they're going for cheap labor.
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