The automobile industry is more than a bunch of companies, manufacturing products to increase the mobility of the world. The automobile products have always been more than a source of going from one place to another; they are chores of daily life, a power of economy and standards of luxury. The vehicle you drive always become a statement of who you are. Cars might become an understatement if considered only a means to show off the power, but with growing technology and an annual income of middle-class men, it has become a basic necessity.
With government support, India has managed to move to rank 4 in the automobile industry. Government always encourages foreign investments regarding the automobile funds as it wants India to become the most significant R&D hub for the automobile industry. Government is also initiating funds for the electric vehicles as public transport reassuring Fast Adoption and manufacturing scheme in India, initiating few start-ups taking care of the same. As per the survey, statistics suggest, currently Automobile industry contributes about six percent in the GDP of the Indian economy, and now the government and industry giants aspire to increase the contribution to twelve percent over a decade.
Looking forward to the rapid urbanization, let’s go through a few best Car production companies:
Volkswagen, founded by German Labor Front in 1937. This German company sells about 10 million vehicles in a year, resulting in a great hold of 11.11 percent of market share. During the production of cars in the early days, Adolf Hitler came into power and supported the firm to accomplish a plan where every German could afford a car. He soon realized t would not be possible for a private firm to manufacture a vehicle for a small budget and thus sponsored a state-owned factory to accomplish the needs; Porsche. This company takes hold of a few massive divas under it, like; Lamborghini, Audi, Bugatti, Porsche, Bentley, SEAT, and Skoda.
Japanese Company, currently employing more than 3.5 lakhs candidates from all around the world, marking a position of a 6th number when it comes to revenue and production. Kiichiro Toyoda founded the firm in 1937. The company’s primary focus lies in producing hybrid electric vehicles, and it is the most substantial MNC encouraging mass-market adoption of hybrid vehicles from around the globe. This company used to claim to be the number one company, manufacturing cars in the world, though it lost it to its biggest rival Volkswagen. It holds around 10.9 percent of the market share currently. The best productions of Toyota are; Innova, Fortuner, Etios, Liva, and Toyota Land Cruiser.