India Utility Vehicle

According to our research report India Commercial Vehicle Market Analysis, the Indian utility vehicle market has seen some rapid developments over the last few years. The need of employee transportation facilities in booming IT and BPO industry has infused demand for utility vehicles. However, the utility vehicle sales fell in 2008-09 amid economic slowdown. The sales figures improved substantially in 2009-10 with the recovering demand from corporate and public sector enterprises as well as improving credit facilities. We anticipate that this trend will continue in future, and the sales will grow at a CAGR of around 9.1% during 2010-11 to 2013-14. The report has found that seven-seated utility vehicles are currently dominating the overall demand. In 2009-10, this segment captured over 50% market share of the entire utility vehicle sales. Most of the seven-seated utility vehicles sold in India can perform better off road. Hence, most of the power and performance-driven (especially the young) population prefers these vehicles. It is expected that majority of manufacturers in coming years will launch their new models in this segment, which will further inflate demand. India Commercial Vehicle Market Analysis is an outcome of extensive research and thorough analysis of the burgeoning commercial vehicle industry in India, including utility vehicles and multipurpose vehicle segments. The report also discusses market structure, current and past market performance and factors critical to the success of the commercial vehicle industry in India. We have also identified all the key players in the Competitor Analysis section of the report. The section talks about the business profile, strategic moves and recent developments of the leading players. Most importantly, the report has also given the industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Indian commercial vehicle industry and will prove decisive for clients.

India opened its doors to the automobile companies from all parts of the world to revolutionize the Indian transportation scenario. The de-licensing of the industry twenty years ago allowed many multinational automobile companies to penetrate the market, making it a highly competitive and beneficial market for the consumers. Over the years, several companies have established their production units in the country, offering a wide range of automobiles to the vast population. Further, the automobile industry has been receiving consistent support from factors, such as increasing earning power, surging capital expenditure on various industries, and strong technological capabilities. According to our research India Commercial Vehicle Market Analysis, the commercial vehicle segment of the Indian automobile industry has shown great recovery after fending off the effects of the global economic crisis. The impact on the industry was mostly due to the stunted infrastructural projects and the lack of development in other industries, which require commercial vehicles. However, once the

market started booming, the segment made its way back into the high growth zone, which started during 2009-10. Growth continued in 2010-11 also, with the production and sales of the industry and individual companies reaching new heights. The most profitable and quickly growing segments have been goods and passenger carriers. This can be attributed to the rapid expansion of cities and suburban areas, which is expected to continue in future as well. Keeping this in mind, we have projected the sales of commercial passenger carriers to register around 14% CAGR during 2011-12 - 201415. At the utility vehicle front, the country posted one of the fastest year-on-year production growths in 2009-10. Growth further stabilized during 2010-11 as the balance between demand and supply was attained after the sudden surge of demand during the postrecession scenario. With recovering vehicle demand from schools, corporate, and public sector organizations, the production grew strongly in 2010-11. We anticipate this trend to continue in coming years also, thus enabling the country to become a dominant utility vehicle player in the global arena. Many new product launches are also expected in the segment of LCV and MUV in the coming two financial years. India Commercial Vehicle Market Analysis is an outcome of the extensive research and objective analysis done by our industry experts on the Utility Vehicle, Multipurpose Vehicle, and Commercial Vehicle markets in India. The report provides detail data and statistics on the production, sales, and export trends for each of the abovementioned market segments. It studies all the past and present trends prevailing in the market to present a future market outlook.

Utility vehicles

The first utility vehicle in India was manufactured by Mahindra and Mahindra. It was a copy of the original Jeep and was manufactured under licence.[69] The vehicle was an instant hit and made Mahindra one of the top companies in India. The Indian Army and police extensively use Mahindra vehicles along with Maruti Gypsys for transporting personnel and equipment. Tata Motors, the automobile manufacturing arm of the Tata Group, launched its first utility vehicle, the Tata Sumo, in 1994.[70][71] The Sumo, owing to its then-modern design, captured a 31% share of the market within two years.[72] The Tempo trax from Force Motors till recently was ruling the rural areas. Sports utility vehicles now form a sizeable part of the passenger vehicle market.[73] Models from Tata, Honda, Hyundai, Ford, Chevrolet and other brands are available.[74]