Automobile Manufacturers: Contributing to the Nation’s Economy

Auto Components are one of the primary industries involved in the manufacture of components in India. There are a large number of auto components manufacturers spread out throughout the country catering to the ever increasing demands of the automotive industry. With the rise in number of vehicles there has been observed a huge rise in automobile industries. These industries are expanding their sphere as the demand of automobiles is increasing. With the continuous growth and development the industry is touching the heights no-a-days. More and more people are entering into the industry because they are well known with the fact that it has wide scope and a bright future ahead. India currently acquires top ranking throughout the world in the automobile industry. Even in mid 1940, the first locally assembled Mahindra Jeep became the preferable choice of people and was running on the roads. This Mahindra jeep was then followed by Ambassador Car by Hindustan Motors. These cars enjoyed immense popularity due to the ease in driving and light weight. The car soon became a class of elite and perfect choice of people. Today also most of the politicians are using ambassador cars as their official vehicle. After the recession around mid 2009, the industry again reached that coveted level of growth and development. The sector is contributing around 4 % to the GDP and nation’s economy. Different people entered in this industry to earn a name as auto accessories manufacturers, catering all the important and required parts to the automobile arena. One of the fads that car owners have is to spend lavishly on auto accessories. There are several auto accessories manufacturers in the country that has served to the demands of countless car ownersOn the other side, the automobile component manufacturers have a different tale to tell. They are worried in investing after being caught off guard in the aftermath of global meltdown in 2008 during which they suffered losses due to decline in sales. They are also oral of not getting any intimation from automobile organizations to reduce the automobile areas due to loss of sales. The unique circumstances has led to a rise in transfer of automobile areas from China organizations, which is now increasing at a much quicker rate than the exports of automobile elements from the Indian, which is again is not a very best part about it for the household market. Auto Components Manufacturers are also offering their range of products in the international market where the demand is actually very high. It is due to people throughout the world trust the manufacturers that they will produce the good quality, durable and affordable products in the automobile industry.