Impact Of MNCs on Automobile industry -
October 13th, 2010
The present scenario is a highly transformed one. Multinational giants are vying with one other to launch their models. Big names of the vehicle industry like the Korean giant, Hyundai, General Motors, Mitsubishi etc. have already opened their account. In other vehicle segments too, Volvo, Mercedes Benz, Audi etc. have carved out their niche. In the two-wheeler segment besides the other major MNC brands made available to the Indian consumers.
As a result conducting business in the Automotive Industry has become more competitive and sophisticated, which increases the demand for multi skilled personnel. Employment opportunities are emerging with Manufacturers, Dealership Operations including Parts, Sales, Service, Leasing & Financing, as well as in the fast developing Automotive Aftermarket sector.
On the other hand, Manufacturing in India has also come of age. The post liberation economical scenario has resulted in all the big names such as General Motors, Ford, Toyota, Honda, Suzuki, Mitsubishi, Mercedes-Benz, Fiat to come up with plants in India.
The Indian automotive giants like Telco, Mahindra, Ashok Leyland, Bajaj are revamping their production strategies and launching new models designed and developed indigenously. This has opened up numerous opportunities or employment in this sector for trained and skilled professionals who are well versed in the latest manufacturing process.
The growth curve of India Auto Inc. has been on an upswing for the past few years. The high growth observed since 2001-02 in automobile production continued in the first three quarters of the 2004-05. Annual growth was 16.0 per cent in April-December, 2004; the growth rate in 2003-04 was 15.1 percent.
Consequent to liberalisation, the arrival of new and contemporary models, easy availability of finance at relatively low rate of interest and price discounts offered by the dealers and manufacturers appear to have stimulated the demand for vehicles and a strong growth of the industry.
The automotive industry is the barometer of any major economy and the same holds true for India as well. There has been a phenomenal growth in the automotive manufacturing sector in our economy.