After the price reduction, Ford Fusion (Diesel) costs Rs 6.5 lakh
India vs global auto markets
Theauto markets such as North America and Europe are more mature marketsand are in a different phase of the automobile lifecycle. The world istoday eyeing the growth in markets such as India and China.
Indiais one of the world`s most dynamic automotive markets. The AutomotiveMission Plan, estimates the size of the Indian automotive industry in2016 between $122 billion and $159 billion. The auto industry hasproven to be a strong driver of growth for the manufacturing andservices sectors that include the auto component & ancillary, fuelretailing, road building & transportation, IT services andengineering design industries.
India has also emerged as aglobal hub for automotive components, and this is driving companiestowards greater product differentiation, using cutting edge research& development, innovative sales and marketing approaches, andincreasing their focus on generating efficiencies in theirmanufacturing and supply chains.
In addition, India`s economyis expected to remain one of the world`s strongest in the coming yearand the increasing purchasing power of Indian consumers will help theautomotive sector experience significant and sustained growth in thefuture.
To be able to meet growth in markets like growth, morefocus on infrastructure is required. The Government needs to strengthenthe infrastructure of the country, which will reduce input costs,making automotive industry even more competitive within the region. Anincreased allocation on infrastructure - roads, railways, airports,ports water and electricity would attract further investments (bothdomestic and global) in the Auto industry. Furthermore, both urban andrural infrastructure should match the current levels of developmentwhich will bring India at par with other developing and developedcountries - and will reinforce India as a global auto manufacturing hub.