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The market share of India's leading car maker Maruti Suzuki India continues to be slightly below 50% mark. However , the company has performed very well in last couple of months. It posted its best ever sales figures in domestic sales in July.
Maruti Suzuki sold 2 , 82 , 488 cars during the April-July period , representing a 47.68 per cent share in the overall 5 , 92 , 405 units market , according to the Society of Indian Automobile Manufacturers (SIAM). The company had a 53.13% share of the 4 , 40 , 069 units car market , with sales of 2 , 33 , 811 units in the same period last year. This is the first fiscal when Maruti has seen its market share go below 50%. It has been caused by the good performance of new small cars like Nano , Figo and Beat launched by competing car makers.
Auto maker Toyota will start trial production of its small car Etios from September 2010. The much awaited car is especially made for India. It is entry of the world's largest car maker into the compact car segment of the Indian auto market.
Toyota is investing Rs 3 , 200 crore to set up its second manufacturing facility in Bangalore to roll out Etios. Toyota has a joint venture with the Kirloskar Group in India. "Before starting the commercial production in December , we will have two rounds of trial productions. While one will start in September , the next one will be in October , " said Shekar Viswanathan , Deputy Managing Director (Commercial) , Toyota Kirloskar Motor.
India's second largest passenger car maker Hyundai Motor India is likely to launch its sports utility vehicle Santa Fe in India in October this year. The SUV may be priced around Rs 22-24 lakh. The company is looking to take advantage of the fast growing SUV segment of the country.
"We will launch Sante Fe in October-November , ahead of the festive season. If volumes pick up , then we will consider assembling the vehicle here , " said Arvind Saxena , Director , (marketing & sales) , Hyundai Motor India. The seven-seater Santa Fe will be equipped with a 2.2-litre diesel engine.
Hyundai had launched its two SUVs Terracan and Tuscon in India but later withdrew it after the models went in for a model change globally.
With the growth in the auto market , even the auto component industry is expected to grow fast. The auto component industry is expected to growth by over four-fold to $113 billion by 2020. The car industry is also expected to see a similar growth.
According to the Automotive Component Manufacturers’ Association , the total passenger car production in the country will jump four times to reach 9 million cars in the next ten years. The exports are likely to form around 35% of the total market by 2020. “India would be among the top-five vehicle producing countries in the world by 2020 , ” said Vinnie Mehta , Executive Director , ACMA.
The Indian component industry is likely to generate revenue of $25 billion in the current fiscal. Around $35 billion are expected to be invested in the industry over the next decade.
Mahindra Systech is going to invest up to Rs 350 crore this fiscal. The company will invest the money on capacity expansion and value addition of products in its auto component business. The company is a division of the Mahindra group.
“We will be spending in the range of Rs 300-350 crore across Mahindra Systech for value addition in steel , stamping , forging and castings , ” said Hemant Luthra of Mahindra Systech. “The amount will be spent for value addition in steel , capacity expansion in stampings and for more machining in forging and casting , ” he added. “As compared to last year , India sales have picked up by 25-30% , while Europe is up 80-90%. So , i am very bullish about what is going to happen in second quarter , ” said Luthra.