Key developments
- In spite of a volatile regulatory environment, FY2018 has been a healthy growth year for India’s automotive industry
- Industry volumes grew by about 11.3% in April-Dec on a year-on-year basis
- Passenger vehicles segment rose around 8.1%, CV by around 15.2%.
- Total two-wheeler market grew 11.8%, while exports grew at a healthy rate of 13%.
- The automotive component industry continued to thrive due to a sharp growth in OEM demand and attractive exports growth.
- Technology change and its importance have become apparent to the industry.
- Safety and fuel efficiency came to the centre stage with expected regulation changes — to BSVI by