Falling Sale of Automobiles: An Impact of Rescission in India
Thursday, August 25th, 2011Falling Sale of Automobiles: An Impact of Rescission in India
Automobile industry of India is one of the fastest growing industries of the world. An automotive industry started in India in the 1940s. Now Indian automobile industry; manufacturing cars, buses, three wheelers, two wheelers, commercial vehicles, heavy vehicles, provides employment to a large number of workforce in India. The Largest automotive companies in India are Maruti Suzuki, Hyundai Motor India, Tata Motors and Mahindra & Mahindra. The growth of the industry was hobbled by the many hurdles of the Indian political and economic system. It has been achieved 17% annual growth rate in production of automobiles and 30% of growth rate in its export. But since past some years it is facing cut-throat competition and problems arises due to of industrial recession.
