ASSESSING THE AUTOMOBILE SECTOR AND ITS FUTURE SCOPE

Abstract

This report outlines the technical potential that the Indian auto sector faces, with a focus on passenger vehicles (cars). It strives to explain the decisions that Indian automakers will make by attempting to comprehend the factors that will impact acceptance of upcoming new technology. Connectivity, electric powertrains, autonomous vehicles, and industry 4.0 are all possibilities. Clearly, the most crucial elements that will push vehicle OEMs (Original Equipment Manufacturers) to depart from their established business structures are government rules and market pull. In interviews with industry leaders, it was revealed that they will be obliged to gradually electrify their fleet in order to stay up with the changing market environment. Despite existing product and eco-system problems, OEMs will face a difficulty in developing the requisite market pull for electric vehicles. Once the problem of BS VI adoption is overcome, the attention will shift to electrification. Other technologies such as connection, autonomy, shared mobility, and so on will acquire prominence, but they will be supplemental product qualities that will assist attract customers rather than the main offer in and of themselves. The government must likewise use extreme caution when guiding the industry in a particular direction. It must resist the urge to make judgments on behalf of the sector and instead allow market forces to choose which technology or opportunity should be adopted. Finally, we propose a government policy direction that applies a weighted average-based emission standard for all manufacturers. In this study, we will focus on the future scope of the automobile industry in India, and what is the scope of Electric vehicles or FCEV’s will diminish the scope for EV’s or any other new technology will disrupt the market. Also, if autonomous cars and Industry 4.0 will work in the Indian environment, running autonomous cars as a public transport can give relief in accidents and traffic jams caused by human errors.