One of my most favorites students and a fellow blogger from Bangladesh S.M.Mehdi Hassan has written in my another blog about the good performance of Asian car companies like Honda and Toyota in the US market. He wrote that Ford and GM were losing market to Toyota and Honda. Well, I wonder when I can write similar posts about the high performance of Indian car companies in the world market- after 5 years or 10 years or may even more! Why are Indian car companies still far behind than their Japanese counterparts?
Until 15 years ago, India did not have many cars and foreign companies could not enter the market easily. When India adopted free market in 1991, foreign car companies could start to enter the Indian market and now Indian consumers have a wider range of choice. The collaboration of Japanese car giant Suzuki with the Indian market Maruti has changed the scenario significantly. This collaboration resulted in producing affordable cars for the Indian growing middle class population. Other foreign companies have come to India and are producing cars here. According to OICA (The International Organization of Motor Vehicle Manufacturers) statistics, 1,511,157 were produced in India and it was 30% higher than the production of motor vehicles in 2003. India is now among the top 15 car producers in the world.
In the car industry, India and Indian companies are still far behind but they are driving fast and hopefully within the next 10 years they will make a major impact in the world auto industry. Times flies away if you are busy and workers in Indian car companies are really very busy now.
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Tracked on: May 22, 2006 5:55 AM | Permalink to Trackback