PESTEL Analysis of the Automotive Industry

PESTEL Analysis of the Automotive Industry

Devesh Bathla, Shraddha Awasthi, Raina Ahuja
Copyright: © 2022 |Pages: 18
DOI: 10.4018/978-1-6684-6133-4.ch013
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Abstract

The automotive industry has the potential to make subsequent inflection in its journey. To do so, it must embrace these six actions with the complete might of the industry ecosystem rallying behind it to support an upward inflection in its trajectory. The safety standards of automobiles in India have been a matter of concern for a while now with the number of deaths thanks to road accidents in India around three to fourfold that of European countries like France, Germany, and Spain. The Indian automotive safety standards are criticized as being insufficient and ineffective. India has the world's sixth-largest car market but remains the sole country among the worldwide top 10 car markets without a testing program that measures the security of vehicles.
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Critical Appraisal Of Automotive Industry In India

The Indian industry is one of the driving forces of the economy, contributing about 49% to the country's manufacturing GDP (gross domestic product) and seven .5% to its overall GDP. The sector's value chain employs about 32 million people. In 2018, the Indian automobile market pipped Germany to become the fourth largest within the world. within the last decade, while the assembly of two-wheelers in India has nearly trebled, the assembly of passenger vehicles and commercial vehicles within the country has doubled.

The industry has been shrouded in gloom and muddled by inconsistent views and U-turns of the industry leaders and stakeholders. While many see green shoots appearing within the near future, some still seem to be mostly skeptical. On the longer-term trends too, the cloud of confusion continues to pose challenges to the size of introducing electric vehicles (EVs) and therefore the impact of BS-VI enforcement.

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