ABSTRACT: The Indian auto industry, worth US$ 34 billion in 2006, has grown at a CAGR of 14 per cent over the last five years with total sales of vehicles reaching around 9 million vehicles in 2005-06. That number is likely to see a significant boost, given that the first half of 2006-07 has already witnessed a staggering growth rate of 17.12 per cent.
This project deals with a critical analysis of Indian automobile industry and its growth it has shown in past years. Even though industry has been showing good growth in numbers it is more important to see whether it is really moving up the ladder. The growth it shows should be in terms of success of new product launches. So this project is to analyze the success rate of new product launches and to see whether the growth shown in Indian automobile industry is really due to new product launches and their success. Due to exhaustive nature of the industry, the study would be confined to cars only. Now the project deals with measuring success of new product launch for cars launched in the past four years. Further, short listing of some car models have been done to make the study more specific and effective.
History and development
The history of the automobile industry in India actually began about 4,000 years ago when the first wheel was used for transportation. In the early 15th century, the Portuguese arrived in China and the interaction of the two cultures led to a variety of new technologies, including the creation of a wheel that turned under its own power. By the 1600s, small steam-powered engine models were developed, but it was another century before a full-sized engine-powered automobile was created. The dream a carriage that moved on its own was realized only in the 18th century when the first car rolled on the streets. Steam, petroleum gas, electricity and petrol started to be used in these cars.