The entry of multinational corporations into India in 1991 opened domestic product markets to increased foreign competition. Most foreign automakers initially entered into joint ventures with existing Indian manufacturers and used existing facilities to assemble their cars in India, bringing new models and technologies. This created a wider range of choices for buyers and increased customer satisfaction. It is expected that many new car models specially designed for Indian customers and roads will soon hit the market at varied price points.
The entry of multinational corporations into India in 1991 opened domestic product markets to increased foreign competition. Most foreign automakers initially entered into joint ventures with existing Indian manufacturers and used existing facilities to assemble their cars in India, bringing new models and technologies. This created a wider range of choices for buyers and increased customer satisfaction. It is expected that many new car models specially designed for Indian customers and roads will soon hit the market at varied price points.
The entry of multinational corporations into India in 1991 opened domestic product markets to increased foreign competition. Most foreign automakers initially entered into joint ventures with existing Indian manufacturers and used existing facilities to assemble their cars in India, bringing new models and technologies. This created a wider range of choices for buyers and increased customer satisfaction. It is expected that many new car models specially designed for Indian customers and roads will soon hit the market at varied price points.
The entry of multinational corporations into India in 1991 opened domestic product markets to increased foreign competition. Most foreign automakers initially entered into joint ventures with existing Indian manufacturers and used existing facilities to assemble their cars in India, bringing new models and technologies. This created a wider range of choices for buyers and increased customer satisfaction. It is expected that many new car models specially designed for Indian customers and roads will soon hit the market at varied price points.
Download as DOCX, PDF, TXT or read online from Scribd
Download as docx, pdf, or txt
You are on page 1/ 2
The entry of MN
C‟s a growth of foreign companies; domestic
product markets are being increasingly subjected to forces of competition. It was inJuly 1991 that the liberalization of economic policy started in real terms. Indiaopens many gates to foreign investors who are seriously looking for untapped markets to prop up the sagging Global passenger‟s car segment.
Most of the automobiles MNC‟s entered into joint ventures with
existing Indian automobile manufactures and simply used up existing facilities to assemble their cars. So, the entry of MNC‟s into Indian protected market create a wide range of choice for the buyers with the latest models and enhanced featuresfor the ultimate satisfaction of the customers.Very soon one can expect a multitude of cars specially designed and priced for Indians to hit the market. The new competitors are offering the producttechnologies that are far more advanced than the MARUTHI of 800s vintage. ENTRY OF CARS IN INDIA : India until 1950 has an automotive industry of its own. Previously carswere imported from the countries like U.K, Belgium, Italy, Germany and Canada,& U.S. The cars which British India used on its road were Buick, Ply mouth,Pontoon ford, Dod ge, Rolls Royce‟s for the elite class.
Morris Minor, Limo etc, didn‟t stay for much longer period as the government had laid restrictions on the imports to conserve foreign exchange. In
1950, India came out with its first car from Hin dustan motors, by the name “BabyHindustan” later “Land Master” and “Ambassador” later came out with different models Mark I,II and IISI. The latest “Nova” version of the present age is that of mark IV version, another car Contessa Classic was real driving one in the company. Theother players of this car segment are standard motors originally in collaborationwith Vanguard Motors produce the Standard Vanguard Motors. Later they cameout with models of Standard 8, Standard 10, Standard 2000, Standard payment andStandard Gazelle. They then shifted to standard herald with mark II, IV versionsand I.Lastly we had fiat in the joint venture with Premier AutomobilesLimited came out with its first model of Fiat 1100 followed by Fiat Elegant, FiatMinnicent, Premier, Premier Padmini etc., the Ambassador and the Fiat were thefront with Hearld coming in the third place. MARUTI’S ENTRY : The first car came in 1984 with the entry of Maruthi Suzuki with theadvent of Maruthi Suzuki; Indian customers got taste of modern technology,reliability and an awareness of international quality standards.The Indian automobile industry, which had ever faced competitiondue to policy; protected and closed economy was still slumbering and was slow toreact.
