G E N E R A L M O T O R S - Presentation Transcript

1. GENERAL MOTORS SUBMITTED TO : SUBMITTED BY : 2. GENERAL MOTORS 3. GENERAL MOTORS

General Motors is the worldwide leader in car manufacture, with a 17% share in the world auto market. Its products are sold in over 170 countries, and its manufacturing base is spread across 43 countries and its annual production is roughly 83 lakh vehicles. It manufactures a variety of vehicles, like the Chevrolet, Pontaic, Cadillac, Oldsmobile, Opel, Saturn, Geo, Vauxhall, Holden and many more.At the forefront of technological innovations in the automotive sector, General Motors, since its inception in 1908, has always stood a shade above the rest. In 1911, it introduced the electric self-starter, in 1933, developed the front wheel suspension, called the Knee - Action.

4. OVERVIEW OF GENERAL MOTORS INDIA General Motors India, incorporated in 1994 as a 50-50 joint venture company with the C.K. Birla Group of Companies, became a fully owned subsidiary of GM in 1999 when GMOC bought the remaining shares. The company was restructured in 1999 and was converted from a Public Limited company to a Private Limited company. GM currently holds 86 percent of voting shares, and Holden (Australia) holds 14 percent.

In India, GM strengthened its presence with new product launches Chevrolet Optra in 2003 and Chevrolet Tavera (Multi Utility Vehicle) in 2004. Similarly in 2006, GM India is expected to register a growth of 90% over 2005.

With sales volume going up, the market share of GM India has gone to nearly 3%. The sales volume in 2005 was 25,155 units while 2007 figure is expected to be around 42,000 units. 5. FACILITIES IN INDIA

The existing GM India plant was originally built by Hindustan Motors. In 1994, GM India entered into a 50% Joint Venture partnership with Hindustan Motors and modernized the 45,000-square-meter plant near Halol, 45 kilometers northwest of Vadodara, in the western state of Gujarat. In February, 1999, GM bought the holdings of Hindutan Motors and GM India became a 100% subsidiary of General Motors Corporation of USA. The plant produces the Opel Corsa, Corsa Sail, Chevrolet Optra, and Chevrolet Tavera. The Chevrolet Forester and Opel Vectra are sold as CBUs (Completely Built in Units) and as imported from Japan and Germany.

GM India's Dealer network and after sales support system are fully functional and provide solid backing for their customers after they purchase the product and help assure total customer satisfaction and enthusiasm. 6. MISSION STATEMENT G.M. is a multinational corporation engaged in socially responsible operations, worldwide. It is dedicated to provide products and services of such quality that customers will receive superior value while our employees and business partners will share in our success and our stock-holders will receive a sustained superior return on their investment. 7. THE G.M. VISION GMs vision is to be the world leader in transportation products and related services. We will earn our customers enthusiasm through continuous improvement driven by the integrity, teamwork, and innovation of GM people. 8. SWOT ANALYSIS

 STRENGTHS Size and market share Technology potential New leadership Quality improvement and perception thereof Model acceptance has improved Benefits derived from adopting to the new strategies

Structural approach and relationship

9. WEAKNESSES Failure To Make Technology Work Relationship With UAW Product Design Problems: Public Acceptance And Reduction Of Cycle Time Market Share And Profitability Ratio over a period of time Still Much To Learn About Lean Production - High Cost Producer Too Much Vertical Integration 10. OPPORTUNITIES

Use of knowledge gained from saturn experince and toyota (nummi) joint venture.

Expansion of their global presence. Continue to build on the newfound customer confidence. Changing consumer demand for new model types and styles expansion and leadership 11. THREATS Domestic and foreign competition Consumer lawsuits Foreign legislation and regulation

Declining quality of the infastructure in this country Chevrolet- Aveo Chevrolet Optra Chevrolet Tavera Chervolet Tavera Neo Opel Corsa

12. FOUR WHEELERS PRODUCT RANGE CARS

Opel Astra 13. WHAT IS GM'S STRATEGY IN INDIA? GENERAL MOTORS is one of the largest corporations in the world. In 1999, based on foreign asset holdings, the UN's World Investment Report (2001) ranked it No 4 among the top 100 transnational corporations.

GM has expanded through greenfields too but makes foreign acquisitions also a part of its global strategy.

India has a fraction of GM's total foreign assets of $68.5billion (25 per cent of total assets).

GM continued its subtle Indian presence through technical collaboration with Hindustan Motors, India's flagship car company until 1985. It is this partnership that brought GM and HM together in the 50:50 Halol joint-venture . GM as an American company in India is making a German product for the Indian market, using imported Brazilian engines, and using Indian labour and components. Local content is 60-70 per cent.

14.

It is also true that GM has deep pockets and its Indian operation is minuscule. Yet, we should not forget that GM can expand by acquiring foreign companies. So far it really has not acquired much except to buy HM's 50 per cent share. A few years ago it secured a 20 per cent stake in Fiat. While GM has allowed these companies to run autonomously, capturing market share through acquisition is a sound strategy for global expansion. 15. INDIAN STRATEGY GM has stakes in Suzuki Motors (20 per cent), Isuzu (49 per cent), and Fuji Heavy Industry (makers of Subaru 20 per cent).

Furthermore, Government has initiated the gradual process of privatisation. With the latest disinvestments, Suzuki has even firmer control in India and, indirectly, GM.

So what does this all amount to? GM's grip on the Indian market may be far greater than what meets the eye: A 100 per cent affiliate, indirect engagement through Daewoo and Suzuki, and a partner in India's largest auto venture MUL 16. NEW GLOBAL STRATEGY OF GM

They are focusing on four key things," said General Motors President and Chief Operating Officer:

Leveraging our capabilities as a single GM global automotive unit Driving for stretch results Pursuing goals with a sense of urgency Product success around the globe 17. WHY GM IS SERIOUS ABOUT BUYING CHRYSLER? [AS A PART OF GLOBAL STRATEGY] General Motors has a detailed strategy for merging the two car companies. But it still needs a bargain price and union concessions to make the deal work.

There now no doubt that General Motors ( GM ) is interested in Chrysler. It's even more obvious that its German parent, Stuttgart-based Daimler Chrysler ( DCX ), wants to cut it loose. GM executives have recently looked closely at the benefits of a deal, even before Daimler Chairman Dieter Zetsche said he would consider selling the company.

GM executives have also war-gamed specific strategies for cutting costs and streamlining operations if they do acquire Chrysler. They have picked through various product lines to determine whether two or more can be built on the same platform to trim costs and simplify purchasing.

 GM executives also see an opportunity to improve Chrysler's profitability by buying parts from around the globe. 18. OUTSOURCING STATEGY OF GM Many companies have their own technology and process standards, but getting suppliers to conform to those standards is no mean feat -- unless the company is General Motors (GM). With $15bn (7.5bn) in IT spending on the table, the car manufacturing giant has plenty of leverage to get what it wants from suppliers

Earlier this year, the company concluded a monolithic, 10-year outsourcing agreement with Electronic Data Systems (EDS), broke up the work and awarded the bulk of $7.5bn (3.75bn) in new contracts to a small group of service firms that included EDS, IBM, Capgemini, Covisint and Wipro. It also moved to shorter, five-year agreements.

The changes at GM were driven by the need for cost savings and greater flexibility and the need to re-engineer the way the company operates IT globally.

GM outsources most of its IT operations and has about 2,000 employees who handle "strategic management of information technology" GM's labor costs are fixed, meaning they remain the same regardless of what the volume of sales is. GM wanted to keep factories open as much as possible. " Analysts added that the reason for the decline in GM's US market share was that it had failed to introduce new models that customers wanted in quick time. To address this challenge, GM made e-business a strategic priority. It wanted to reinvent itself by embracing e-business across its value chain. In August 1999, after a year of research in collaboration with Forrester Research , GM launched a business division called e-GM that was responsible for all of the company's websites and its OnStar communication system . Through this initiative, the company planned to reduce costs, improve quality and boost demand for its products.

19. GMS E-BUSINESS STRATEGY

20. HYBRID STRATEGY OF GM General Motors Corp. offered detailed plans to boost the fuel economy of its most popular cars and trucks by as much as 50 percent, beginning with two pickup trucks in the 2007 - model year. Overall gains in fuel economy will range from 15 percent to 50 percent, with the biggest increases going to the 2008 version of the compact Saturn VUE sport utility vehicle. GM will rely on hybrid gas-electric technology, and possibly hybrid diesel-electric engines, to dramatically crank more miles per gallon. GM is the world's largest car company. If it is successful in winning widespread consumer acceptance of hybrid petroleum-electric vehicles, it could change radically the kinds of engines and propulsion systems that could go into future cars and trucks. 21. REUSE STRATEGY OF GM Parts reuse based on a common database will reduce engineering time, save money, and serve global ambitions. When General Motors Corp. set out to design its Cadillac XLR, a flashy new twopassenger roadster with a retractable hardtop, it borrowed the frame from Chevrolet's Corvette, a classic American sports car.

GM is expanding its parts database of 40,000 3-D CAD models--representing everything from gas caps to headlamps to suspension systems--for its North American vehicles to incorporate information on parts used in cars built for the European and Asian markets, which often conform to different regulatory requirements and standards.

22. 23. KEY FINDINGS Cost - GMs cost is too high as compared to its competitors Quality GM has marginal quality products, but due to the competition it has been continuously upgrading, with the help of its product quality attributes Product line and segmentation - price and function wise G.M. is ok Suppliers - G.M. is too vertically integrated Buyers Buyers of General Motors generally are of those who prefer Sport utility and pick-ups vehicles. New entrants - Not likely a threat GM's operations in India combine Indian ingenuity, American management know-how and German engineering to produce premium automobiles in a world class manufacturing environment. 24. RECOMMENDATIONS Focus resources on core products, cars, & trucks. Realignment of organizational structure to support core products and meet costs & quality goals. Example: self managed creative work teams to figure out how to speed-up product development & improve product development. Implement common systems & processes where possible. Balance needs of employees and unions with needs of the company.
Right now General Motors India (2009), has two installation namely in Halol, Gujarat and Talegaon, Maharashtra. And even after having a production capacity of 225,000 cars (Halol) and 160,000 engines (Talegaon), GM is still at number fifth to Maruti in annual sales report. It is believed that GM India is all set for launching three commercial and two passenger vehicles in India next year.

Reference
Business Standard - April 5th, 2007 Business Line April 29th, 2007 Indian Automobile Industry-Recent trends, RNCO, June 2005 Indian Automotive Industry (2005-2010), RNCO, June 2006 Indian auto Component Industry .Scope Marketing Information Solutions (P)Ltd Jan2001 News results for Indian Auto component Industry. Economic Times, 28th April 2007

Kamala, T.N. & Doreswamy, A.G. (2007). Strategies for Enhancing Competitiveness of Indian Auto Component Industries. Publisher: Indian Institute of Management Kozhikode.
Strategies for Enhancing Competitiveness of Indian Auto Component Industries
Dr. Kamala TN* and Prof. Doreswamy AG* India in a Tri-Polar Auto World India would be the third largest Economy (after US and China) by 2050 - Goldman Sachs Report Introduction India's quest to become a global auto manufacturing hub has made the worlds top auto makers increasingly turn to India for their vehicle components. Riding this success and capitalizing on the spiraling demand from domestic auto companies, the Indian auto components industry is

strengthening the demand and is emerging as one of fastest growing manufacturing sectors, and a globally competitive one. The entry of foreign automobile manufacturers ranging from Mercedes Benz, Ford, and General Motors to Daewoo following the government liberalizing the foreign investment limits has created a beginning of auto ancillary industry to witness huge capacity expansions and modernization initiatives in the post liberalization period. India is also becoming a global hub for R&D: GM, Daimler Chrysler, Bosch, Suzuki, Johnson Controls etc. have set up development centers in India ACMA says that India is amongst the most competitive manufacturers of Auto Components; especially metal Intensive components like forgings, stampings, and castings. We have come to understand frugal product engineering and marketing. The mindset behind the SCORPIO (Mahindra and Mahindras successful utility vehicle)- an example of frugal engineering- is what we want to learn. We need to know how to assemble and source such products and make money out of them. Indian manufacturers know it best. China is also a lowcost manufacturer. But there is something unique about Indias frugality of engineering and management. If I have to fight the battle on low cost, I am going to do it (with a base) in India. Carlos Ghosn of Nissan Driving force of Indian manufacturing sector The Indian Auto component Industry has an estimated 560 companies operating in this area (FY 2006), giving direct employment to more than 300,000 persons, exporting goods worth US $ 1.8 billion. Exports have improved from 16 % (FY2005) to 21.5 % (FY 2006) of total auto component production. The Indian Auto component industry is largely dependent on OEMs, which contributes to 60 % of sales, after market (Replacement market) 18.5 % and export 21.5 %. Automotive contribution to GDP India's GDP is set to double over the next decade in percentage terms, the automotive industry's contribution should also double. In dollar terms, the sector's contribution is set to quadruple to some $145bn. The consequence is a remarkable transformation of India's entire economic landscape.

An Overview of the Indian Automobile Industry

Starting its journey from the day when the first car rolled on the streets of Mumbai in 1898, the Indian automobile industry has demonstrated

a phenomenal growth to this day. Today, the Indian automobile industry presents a galaxy of varieties and models meeting all possible expectations and globally established industry standards. Some of the leading names echoing in the Indian automobile industry include Maruti Suzuki, Tata Motors, Mahindra and Mahindra, Hyundai Motors, Hero Honda and Hindustan Motors in addition to a number of others. During the early stages of its development, Indian automobile industry heavily depended on foreign technologies. However, over the years, the manufacturers in India have started using their own technology evolved in the native soil. The thriving market place in the country has attracted a number of automobile manufacturers including some of the reputed global leaders to set their foot in the soil looking forward to enhance their profile and prospects to new heights. Following a temporary setback on account of the global economic recession, the Indian automobile market has once again picked up a remarkable momentum witnessing a buoyant sale for the first time in its history in the month of September 2009. The automobile sector of India is the seventh largest in the world. In a year, the country manufactures about 2.6 million cars making up an identifiable chunk in the worlds annual production of about 73 million cars in a year. The country is the largest manufacturer of motorcycles and the fifth largest producer of commercial vehicles. Industry experts have visualized an unbelievably huge increase in these figures over the immediate future. The figures published by the Asia Economic Institute indicate that the Indian automobile sector is set to emerge as the global leader by 2012. In the year 2009, India rose to be the fourth largest exporter of automobiles following Japan, South Korea and Thailand. Experts state that in the year 2050, India will top the car volumes of all the nations of the world with about 611 million cars running on its roads. At present, about 75 percent of Indias automobile industry is made up by small cars, with the figure ranking the nation on top of any other country on the globe. Over the next two or three years, the country is expecting the arrival of more than a dozen new brands making compact car models. Recently, the automotive giants of India including General Motors (GM), Volkswagen, Honda, and Hyundai, have declared significant expansion plans. On account of its huge market potential, a very low base of car ownership in the country estimated at about 25 per 1,000 people, and a rapidly surging economy, the nation is firmly set on its way to become an outsourcing platform for a number of global auto companies. Some of the upcoming cars in the India soil comprise Maruti A-Star (Suzuki), Maruti Splash (Suzuki), VW Up and VW Polo (Volkswagen), Bajaj small car (Bajai Auto), Jazz (Honda) and Cobalt, Aveo (GM) in addition to several others. History of the Automobile industry in India

The economic liberalization that dawned in India in the year 1991 has succeeded in bringing about a sustained growth in the automotive production sector triggered by enhanced competitiveness and relaxed restrictions prevailing in the Indian soil. A number of Indian automobile manufacturers including Tata Motors, Maruti Suzuki and Mahindra and Mahindra, have dramatically expanded both their domestic and international operations. The countrys active economic growth has paved a solid road to the further expansion of its domestic automobile market. This segment has in fact invited a huge amount

of India-specific investment by a number of multinational automobile manufacturers. As a significant milestone in its progress, the monthly sales of passenger cars in India exceeded 100,000 units in February 2009. The beginnings of automotive industry in India can be traced during 1940s. After the nation became independent in the year 1947, the Indian Government and the private sector launched their efforts to establish an automotive component manufacturing industry to meet the needs of the automobile industry. The growth of this segment was however not so encouraging in the initial stage and through the 1950s and 1960s on account of nationalization combined with the license raj that was hampering the private sector in the country. However, the period that followed 1970s, witnessed a sizeable growth contributed by tractors, scooters and commercial vehicles. Even till those days, cars were something of a sort of a major luxury. Eventually, the country saw the entry of Japanese manufacturers establishing Maruti Udyog. During the period that followed, several foreign based companies started joint ventures with Indian companies. During 1980s, several Japanese manufacturers started joint-ventures for manufacturing motorcycles and light commercial-vehicles. During this time, that the Indian government selected Suzuki for a joint-venture to produce small cars. Following the economic liberalization in 1991 and the weakening of the license raj, several Indian and multi-national car companies launched their operations on the soil. After this, automotive component and automobile manufacturing growth remarkably speeded up to meet the demands of domestic and export needs. Experts have an opinion that during the early stages the policies and the treatment by the Indian government were not favorable to the development of the automobile industry. However, the liberalization policy and various tax reliefs announced by the Indian government over the recent past have pronounced a significantly encouraging impact on this industry segment. Estimates reveal that owing to several boosting factors, Indian automobile industry has been growing at a pace of about 18% per year. Therefore, global automobile giants like Volvo, General Motors and Ford have started looking at India as a prospective hot destination to establish and expand their operations. Like many other nations Indias highly developed transportation system has played a very important role in the development of the countrys economy over the past to this day. One can say that the automobile industry in the country has occupied a solid space in the platform of Indian economy. Empowered by its present growth, today the automobile industry in the country can produce a diverse range of vehicles under three broad categories namely cars, two-wheelers and heavy vehicles.

CONCLUSION The automotive industry is at the core of Indias manufacturing economy. India is positioned to become one of the worlds most attractive automotive markets for both manufacturers and consumers. The resulting benefits to societyin economic growth, increased jobs, and stability for families employed by the automotive industryare considerable. What does this mean for motor vehicle businesses? The total cost of ownership of two-wheelers over the past few years has increased while that of entry-level passenger cars has declined, primarily due to rising fuel prices and lower prices for Sub-A segment vehicles. This shift will result in increased entry-level passenger vehicle sales in urban areas. Hence, the two-wheeler manufacturers should focus on penetration of sales in rural markets where infrastructure is relatively underdeveloped. Motorbikes will still be attractive to younger consumers as a primary mode of transport; the product strategy must be focused on that segment. The two-wheeler manufacturers must also work to further improve fuel efficiency. Automobile penetration in India is only seven or eight per 1,000 people, compared with nearly 500 per 1,000 people in mature markets. To increase this ratio, manufacturers should campaign for better infrastructure, further reduce the total cost of car ownership, and bring financing and insurance models up to modern global standards. To beat rising input costs, manufacturers must improve their net cost position by increasing productivity and performance. Indian auto manufacturers such as Tata must increase their global sales for faster recovery of their fixed costs and match the product cycle times of international manufacturers like Hyundai. The government can help by mandating higher fuel efficiencies for passenger vehicles and by setting antipollution policies that take older cars off the road. The government can also address the heavy blow dealt by the economy to the motor vehicle industry by providing funds to improve credit availability, especially for noncommercial vehicle buyers. To further promote the market, manufacturers must adopt new technologies that improve comfort, safety, and durability. By promoting fuel efficiency, India can reduce its dependence on foreign oil. By reducing its fuel subsidies, the government could direct that spending to social programs. But to ensure that the benefits come to fruition, India and its automakers must act now. INDIAN MARKET CHALLENGES In addition to its many opportunities, the Indian automotive industry presents challenges for all players. Political and economic stability in India and stable global financial markets are the keys to meeting predicted growth rates; however, stability has been hard to come by. Global Economic Crisis For the short term at least, the global economic crisis has slowed Indias economy and the commercial vehicle market. The medium and heavy commercial vehicle markets have been affected more than light commercial vehicles. Consumer lending has been severely affected. Although interest rates have been reduced, the percentage of loan approvals has also declined. Customer trade-downs mean lower trim levels and lower-end models. Despite all this, the four-wheel passenger vehicle market is expected to reach approximately 6 percent growth, far below the historic 14 percent CAGR, but a healthy level nonetheless. As noted above, the news is not so good for the commercial vehicle sectorsales are expected to decline by 35 percent for FY09. With support for financing from the government, sales should recover in FY10. The two-wheeler segment has shown some resistance to the global crisis; however, in a broader market collapse, this segment will suffer as well. Commodity Prices As discussed, the two-wheeler industry faces homegrown competition from ultra-low-cost cars priced at $2,500 and less. A return to high steel prices will challenge these inexpensive four-wheelers. Manufacturers have little option but to pass cost hikes on to low-wage consumers. Oil and other commodity price increases will also challenge the four-wheel passenger market. Commodity prices may be depressed in a slowing worldwide economy, but theyre in for another rapid rise once global economic growth recovers. Infrastructure and Technology If India is to achieve the full potential offered by motor vehicle industry growth, it must address several challenges. Emissions and safety standards in India are not up to European or North American standards; without reform in these areas, India wont be taken seriously as a vehicle exporter. At the same time, the commercial vehicle industry in India faces legislation that would mandate anti-lock braking (ABS) and anti-skid technologies; with a high personal-ownership rate for commercial vehicles, it will be difficult to pass on the increased cost of such safety mandates to price-sensitive consumers. Infrastructure development in India must keep pace with the growth of small cars on the road. Impediments to the construction of the Golden Quadrilateral, the highway connecting the countrys major metropolitan cities in a giant ring, would directly affect commercial segment sales. Currently India has only 3,700 miles of highway, compared to 25,000 miles in China and 46,000 miles in the United States. Given this underdevelopment in infrastructure, India needs to redefine the normal commercial truck pyramid by emphasizing sales of small and light commercial vehicles. whereas sales of mopeds, with the thinnest OPPORTUNITIES IN THE INDIAN growing market. High-value sports and luxury motorbikes boast fat margins, too, margins, have declined. MARKET yet global market leaders such as Harley- Mainstream consumers use two-wheelers A growth spurt in any industry presents Davidson, BMW, and Ducati are not for personal or family transport. New an opportunity to shape a market for aggressively investing in the Indian engine technologies that increase long-term prosperity. Motorbikes, the market, which leaves an opening for horsepower while maintaining the high prime driver of two-wheeler growth, domestic manufacturers. Sales of lower- fuel efficiency of the four-stroke engine carry fairly high margins in a rapidly margin scooters have increased somewhat, have strong potential to further boost

sales. To sustain sales growth, Indian motor vehicle buyers, although the At present, the Honda City, Hyundai manufacturers, dealers, and consumer Tata Nano and other Sub-A segment Accent, and Maruti Esteem are the leading finance groups must work together to automobiles will bridge a significant gap models in this segment. build innovative financing options for in the automotive ladder. To become a global player in small cars consumers. While the small-car market continues to for both domestic and export markets, The four-wheel passenger vehicle develop, local players like Tata and Maruti Indian manufacturers will need new market has grown impressively at the are also aggressively pushing into the innovations in power-train and hands of the new middle class, although compact and entry midsize segments. The manufacturing technologies to drive down market penetration remains low. Four- entry midsize market represents costs and compete with wheel automobiles are still too particularly fertile ground, expected to expensive for the vast majority of grow 27 percent over the next five years.

two-wheelers. There are opportunities on the cost side of the entry midsize segments as well, as automakers utilize Indias world-class engineering and low-cost manufacturing labor. Global OEMs now have an opportunity to develop cars in India and even manufacture them for export to the Western markets. Even in a moderate economic scenario, we expect the four-wheel passenger market to reach at least 2.5 million units by 2015 (see Exhibit 3). Indias commercial vehicle industry, although one of the largest in the world, is nascent by Western standards. Only 20 percent of the nations commercial vehicles are in fleet ownership, compared with about 70 percent in the Western markets. An increase in fleet ownership will make the market more regulated, more consolidated, less price sensitive, and more apt to be driven by economics than by emotion. At the segment level, small commercial vehicles like the Tata Ace have changed the industry landscape. Combining high utility with low prices and low maintenance costs, these vehicles allow consumers to trade up from loadcarrying three-wheelers. India is already the second-largest exporter of small cars. The Ace presents an opportunity to export small trucks to other emerging markets and will serve as a model that prompts other manufacturers to begin building and exporting similar vehicles. Refrigerated trucks represent a segment that will grow naturally with increasing GDP. Such trucks must be economically attractive and environmentally friendly; development of fuel-efficient technologies in this area will further increase the market size. In the meantime, high-end trucks and ultra luxury buses present opportunities for the domestic market and for export.

Automobile Industry

Automotive industry is the key driver of any growing economy. It plays a pivotal role in country's rapid economic and industrial development. It caters to the requirement of equipment for basic industries like steel, non-ferrous metals, fertilisers, refineries, petrochemicals, shipping, textiles, plastics, glass, rubber, capital equipments, logistics, paper, cement, sugar, etc. It facilitates the improvement in various infrastructure facilities like power, rail and road transport. Due to its deep forward and backward linkages with almost every segment of the economy, the industry has a strong and positive multiplier effect and thus propels progress of a nation. The automotive industry comprises of the automobile and the auto component sectors. It includes passenger cars; light, medium and heavy commercial vehicles; multi-utility vehicles such as jeeps, scooters, motor-cycles, three wheelers, tractors, etc; and auto components like engine parts, drive and transmission parts, suspension and braking parts , electricals, body and chassis parts; etc. In India, automotive is one of the largest industries showing impressive growth over the years and has been significantly making increasing contribution to overall industrial development in the country. Presently, India is the world's second largest manufacturer of two wheelers, fifth largest manufacturer of commercial vehicles as well as largest manufacturer of tractors. It is the fourth largest passenger car market in Asia as well as a home to the largest motor cycle manufacturer. The installed capacity of the automobile sector has been 9,540,000 vehicles, comprising 1,590,000 four wheelers (including passenger cars) and 7,950,000 two and three wheelers. The sector has shown great advances in terms of development, spread, absorption of newer technologies and flexibility in the wake of changing business scenario. The Indian automotive industry has made rapid strides since delicensing and opening up of the sector in 1991. It has witnessed the entry of several new manufacturers with the state-of-art technology, thus replacing the monopoly of few manufacturers. At present, there are 15 manufacturers of passenger cars and multi-utility vehicles, 9 manufacturers of commercial vehicles, 16 of two/ three wheelers and 14 of tractor, besides 5 manufacturers of engines. The norms for foreign investment and import of technology have also been liberalised over the years for manufacture of vehicles. At present, 100% foreign direct investment (FDI) is permissible

under the automatic route in this sector, including passenger car segment. The import of technology for technology upgradation on royalty payment of 5% without any duration limit and lump sum payment of USD 2 million is also allowed under automatic route in this sector. The Indian automotive industry has already attained a turnover of Rs. 1,65,000 crore (34 billion USD) and has provided direct and indirect employment to 1.31 crore people in the country. The growth of Indian middle class, with increasing purchasing power, along with strong macroeconomic fundamentals have attracted the major auto manufacturers to Indian market. The market linked exchange rate, well established financial market, stable policy governance work and availability of trained manpower have also shifted new capacities and flow of capital to the auto industry of India. All these have not only enhanced competition in auto companies and resulted in multiple choices for Indian consumers at competitive costs, but have also ensured a remarkable improvement in the industry's productivity, which is one of the highest in Indian manufacturing sector. The Department of Heavy Industry, under the Ministry of Heavy Industries and Public Enterprises, is the main agency in India for promoting the growth and development of the automotive industry. The department assists the industry in achievement of its expansion plans through policy initiatives, suitable interventions for restructuring of tariffs and trade, promotion of technological collaboration and up-gradation as well as research and development. The department is also concerned with the development of the heavy engineering industry, machine tools industry, heavy electrical industry, industrial machinery, etc. The automobile sector recorded growth of 13.56% in 2006-07. During the year 2007-08 (AprilDecember), the industry decelerated at 3.49%. The automobile exports crossed the US$ 1 billion mark in 2003-04 and increased to US$ 2.76 billion in 2006-07. The industry exported 15% of its passenger car production in 2006-07, 10% of commercial vehicles production, 26% three wheelers and 7% two wheelers. Similarly, during the year 2006-07, the auto component industry continued its high growth path and emerged as one of the fastest growing sector in Indian engineering industry by clocking 21% growth in output during the year. This industry crossed a total turnover of over US $ 15 billion (Rs. 64,500 crore), with exports of US $ 2.9 billion (Rs. 12,643 crore) during the year. Investment in the industry also grew by over Rs. 4500 crore during the year as the industry continued to invest in capacity enhancements and new greenfield sites to cope with the increasing demand. The auto component industrys export growth was 15% in 2006-07. While, the total imports was US $ 3.3 billions (Rs. 14,644 crore). On the quality and productivity front, auto component industry maintained its leadership with more than 95% companies being certified as per the ISO 9000 system standards and more than 70% of the companies are certified as per the ISO/TS 16949 standards. It has also the distinction of having the maximum number of 11 Deming award winning companies. In order to further accelerate and sustain advancements in the auto sector, the department has undertaken several policy measures and incentives. The most important being the announcement of the 'Auto Policy' of 2002, which aims to establish a globally competitive automotive industry in India and double its contribution to the economy by 2010. The policy seeks to set out the direction of growth for the sector and promote R&D therein so as to ensure continuous technology upgradation as well as building up of better designing capacities. It emphasizes on low emission fuel auto technologies and availability of appropriate auto fuels in order to take auto manufacturing to a self-sustaining level. Broadly, the objectives of the auto policy are to: Exalt the sector as a lever of industrial growth and employment and to achieve a high degree of value addition in the country

Emerge as a global source for auto components

Establish an international hub for manufacturing small, affordable passenger cars and a key center for manufacturing tractors and two-wheelers in the world

Ensure a balanced transition to open trade at a minimal risk to the Indian economy and local industry

Conduce incessant modernization of the industry and facilitate indigenous design, research and development

Steer India's software industry into automotive technology

Assist development of vehicles propelled by alternate energy sources

Development of domestic safety and environmental standards at par with international standards.

Another milestone in this field has been the launching of the National Automotive Testing and R &D Infrastructure Project (NATRIP) which aims to create core global competencies in automotive sector and facilitate its integration with the world economy. It seeks to develop 'stateof -the- art' testing, validation and R& D infrastructure in the country with a view to support the growth and development effort of the automotive industry to reach international levels. NATRIP envisages setting up of world-class and homologation facilities in India with a total investment of Rs. 1,718 crore within the three automotive hubs of the country. These are:- Manesar in Northern India; Chennai in Southern India; and Pune and Ahmednagar in Western India. The project largely aims at: Creating critically needed automotive testing and validation infrastructure to enable the Government to usher in global vehicular safety, emission and performance standards

Deepening of manufacturing in India by achieving high degree of value addition and enhancing employment potential in the country

Facilitating convergence of India's strengths in IT and electronics with automotive engineering

Enhancing India's global outreach in this sector by facilitating development and mass production of high technology driven, affordable and globally acceptable automotive products and by de-bottlenecking their exports and

Removing the crippling absence of basic product testing, validation and development infrastructure for automotive industry.

Besides, the announcement of 'Automotive Mission Plan' for the period of 2006-2016 is a major step taken to make India a global automotive hub. The Mission Plan aims to make India emerge as the destination of choice in the world for design and manufacture of automobiles and auto components, with output reaching a level of US$ 145 billion (accounting for more than 10% of the GDP) and providing additional employment to 25 million people by 2016. It envisages increase in production of automotive industry from the current level of Rs. 169000 crore to reach Rs. 600000 crore by 2016. The Mission seeks to oversee the development of the automotive industry, that is, the present scenario of the sector, its broad role in the growth of national economy, its linkages with other key facets of the economy as well as its future growth prospects. This is involved in improving the automobiles in the Indian domestic market, providing world class facilities of automotive testing and certification as well as ensuring a healthy competition among the manufacturers at a level playing field. The future challenges for the Indian auto industry in achieving the targets defined in the Automotive Mission Plan would primarily consist of developing a supply base in terms of technical and human capabilities, achieving economies of scale and lowering manufacturing costs, as well as overcoming infrastructural bottlenecks. It also involves stimulating domestic demand and exploiting export and international business opportunities. In all these, the role of the Government is of facilitating infrastructure creation, promoting the countrys capabilities, creating a favourable and predictable business environment, attracting investments and promoting R&D. While, the role of industry is primarily of designing and manufacturing products of world-class quality standards, establishing cost competitiveness, improving productivity of both labour and capital, achieving scale and R & D enhancing capabilities as well as showcasing Indias products in potential markets. All such initiatives indicate that the Indian automotive industry has been emerging as a sunrise sector of the economy. It is not only meeting the growing domestic demands, but also gradually increasing its penetration in the international markets. It has been continuously restructuring itself and absorbing newer technologies in order to align itself to the global developments and realize its potentialities. Endowed with several advantages like low cost and high skill manpower; globally competitive auto-ancillary industry; established testing and R & D centres; production of steel at lowest cost; etc., the industry provide immense investment opportunities. This has instilled confidence in auto manufacturers to face international competition as well as improve quality standards of vehicles with safety norms in the wake of rapidly increasing traffic. Various policy incentives including time bound implementation of Automotive Mission Plan together with establishment of world class testing, homologation and certification facilities would ensure Indian automotive industry a distinct edge amongst the newly emerging automotive destinations of the world.

Major Manufacturers in Automobile Industry

Maruti Udyog Ltd. General Motors India Ford India Ltd. Eicher Motors Bajaj Auto Daewoo Motors India Hero Motors Hindustan Motors Hyundai Motor India Ltd. Royal Enfield Motors Telco TVS Motors DC Designs Swaraj Mazda Ltd On the canvas of the Indian economy, automotive industry occupies a prominent place. Due to its deep forward and backward linkages with several key segments of the economy, automotive industry has a strong multiplier effect and is capable of being the driver of economic growth. A sound transportation system plays a pivotal role in the country's rapid economic and industrial development. The well-developed Indian automotive industry ably fulfils this catalytic role by producing a wide variety of vehicles:passenger cars, light, medium and heavy commercial vehicles, multi-utility vehicles such as jeeps, scooters, motorcycles, mopeds, three wheelers, tractors etc. Automotive Industry comprises of automobile and auto component sectors and is one of the key drivers of the national economy as it provides large-scale employment, having a strong multiplier effect. Being one of the largest industries in India, this industry has been witnessing impressive growth during the last two decades. It has been able to restructure itself, absorb newer technology, align itself to the global developments and realize its potential. This has significantly increased automotive industry's contribution to overall industrial growth in the country. The automotive industry (including components & tyres) has already attained a turnover of US$ 48.86 billion. The industry provides direct and indirect employment to 13.1 million people.The contribution of the automotive industry to GDP has risen from 2.77% in 1992-93 to 4.14% in 2008-09.The industry is also making a contribution of 17% to the kitty of indirect taxes of the Government.

Federation of Automobile Dealers Associations India, Thursday, June 09, 2011

e
The Indian Auto Industry & The Role of Dealers Dr V Sumantran The global auto industry has been the subject of much analysis in recent years. While global capacity creation proceeds at a good clip on one hand, continued capacity creation in the face of sluggish sales have led to depressed levels of capacity utilisation. At the same time, driven by escalating customer expectations, aggressive competition as well as huge advances in regulations governing environmental considerations and safety, the levels of investment needed for new products continue to grow rapidly. This resulting squeeze on margins had eroded the profitability of several auto majors. Nothing manifests this sentiment better than the steady erosion of market cap of the aggregate of major auto companies. However, in this picture of gloom, there is broad agreement that the bright spots for the industry globally remain the new markets of China, South East Asia and India. The last decade has seen the Indian industry gain in maturity and confidence. This industry is counted amongst the larger contributors to India's economic development, witnessed over the last decade. Today, the Indian auto industry is one of the largest industrial sectors with a turnover that contributes to roughly 5 per cent of India's GDP. More importantly, it contributes to employment of over 2 million people directly and indirectly to another 10 million. The industry is important for national policy in that it contributes 19 per cent of indirect taxes. Indian Market Scenario Until a decade ago, the auto sector in India had been a relatively protected industry limiting the entry of foreign companies with high tariffs against imports. Today, as part of a broader move to liberalise its economy, India has opened up the sector to Foreign Direct Investments, and since then has also progressively relaxed trade barriers. Today, almost all of the major global companies are present in India producing two-wheelers and passenger cars in almost all segments. Dr V Sumantran Dr V Sumantran was the Executive Director-Passenger Car Business Unit and Engineering Research Centre at Tata Motors Limited during November 2001 to August 2005. He also served as President of the Automotive Research Association of India and as Chairman of Concorde Motors Limited. In 2005, Dr Sumantran, a fellow of Indian National Academy of Engineering, was inducted to the Scientific Advisory Council to the Prime Minister (SAC - PM). He holds a PhD degree in, Aerospace Engineering as well as a Master's degree in Management of Technology. Prior to joining Tatas, Dr Sumantran began his career at General Motors in 1985 in the R&D Centre in the USA. In 2000, he became Director, Advanced Engineering, SAAB Automobile AB, Sweden, on deputation from General Motors. Actively associated with the Board of SAE International, he has also served as editor for Passenger Car Journal from 1995 until 2001.

India produced over 7.6 million two-wheelers, 1.3 million passenger cars and utility vehicles in 200506. India is a global major in the two-wheeler industry and primarily produces motorcycles, scooters and mopeds of engine capacities below 200cc. It ranks second in the world in the production of two-

wheelers and 13th in the production of passenger cars. Among the commercial vehicle makers, Tata figures at number six among the ten largest global manufacturers. The two-wheeler industry in India has grown at a compounded annual growth rate of more than 10 per cent during the last five years and has also witnessed a shift in the demand mix, with sales of motorcycles showing an increasing trend. Indian two-wheelers comply with some of the most stringent emission standards worldwide. For the passenger car market, this segment has been growing at a rapid pace - from over 650,000 vehicles sold during 2001 to over a million vehicles sold during 2004-05. Industry Growth Drivers The passenger car penetration in India is at 8.5 vehicles per thousand people absolute terms. It is among the lowest in the world. As per capita GDP of a society grows, mobility needs for its population rapidly increase.

The proportion of young people, who are economically active, is rising in the overall population. This has led to increasing urbanisation and the need for mobility which translates into a higher demand for two and four wheelers in India.

Relatively good availability of money and a favorable interest rate regime has also been a strong contributor to sustained demand.

The Indian auto industry is expected to get a boost from the road development programmes that the country has undertaken especially the Golden Quadrilateral programme and the NSEW corridors with feeder roads.

India's competitiveness has enabled it to make a steady foray in International markets with passenger car exports crossing the 100,000 mark in 2004. Multinationals use India as a manufacturing hub for small cars in addition to growing exports from indigenous makers such as Tata Motors and furthermore, India's two-wheeler manufacturers have also stepped up their export plans and apart from export, have also announced CKD operations in many new markets outside India.

As India forges free trade agreements (FTA) with Thailand, MERCOSUR and other trading blocs, the industry has the potential to emerge even stronger. However, against this optimism, the industry has felt the effects of cost pressure.

The global movement of oil prices has dealt a setback to the country's economic policy. While the threat of inflation seems to have been temporarily brought under control, sustained fuel price hikes and the consequent hike in operating costs for vehicle owners can cause a depression in demand.

The past two years have also seen considerable pressure for the industry from input costs. Prices of steel, which is a primary input for the industry, have doubled over the last three years. The situation has forced players to resort to innovative ways to control costs whilst meeting rising customer expectations.

Industry Performance

During the period 2005-06, sale of passenger vehicles in India registered a growth of 7.7 per cent. Continuing the tempo of explosive growth, two-wheelers registered a robust growth of 13.6 per cent. Within the segment, scooters registered a decline of 1.6 per cent, and motorcycles - a growth of 17 per cent, reflecting a continued movement from scooters to motorcycles. At the same time, the moped segment continues to see a shift from urban markets to rural markets and has grown by a modest 3 per cent. The health of the commercial vehicle industry has also improved with the total industry reporting a growth of 10 per cent for this period. While the industry continues to see some structural trends with larger growth at the lower tonnage segments and the high tonnage segments, the Medium Commercial Vehicle (MCV) segment has been witnessing a decline. This is attributed to a migration to 'hub and spoke' patterns for freight movement and increasing competitiveness for road haulage even for longer distances compared to rail. A consequence has been a large increase in sales of vehicles with payload capacities of one-half to one tonne. At the opposite end of the product spectrum, a number of players including Tata, Volvo, Daimler-Chrysler and MAN have announced plans for new modern generation Heavy Commercial Vehicles, anticipating increased growth of large tonnage, long-haul movement with the new highways. While the industry, particularly, the commercial vehicle segment, has been known to be cyclical, the secular trends for the industry are positive, bolstered by the overall growth of the Indian economy. The past couple of years of healthy demand have seen the industry players post positive financial results and by and large this is reflected in the stock market movement of the listed companies. With environmental concerns gaining momentum in Indian society, a long-term roadmap has been charted by the Mashelkar committee, to drive the country faster down the road to low emission vehicles. With this, from 1st April 2005, all eleven major cities require to comply with the more restrictive Bharat Stage III (BS III) emission standards. At the same time, the rest of the country advanced from BS I to BS II levels of norms. Future Trends Buoyed by recent performance, many manufacturers have rolled out plans for increasing capacity. Prominent among them, Maruti, Hyundai and Tata - the passenger car makers - have announced plans for substantial scaling up of vehicle and engine production. Among two-wheelers, companies such as Honda and Suzuki have embarked on their own production facilities for scooters and motorcycles, separate from the activities from their current or erstwhile partners. Daimler-Chrysler and MAN have announced plans for small volume assembly of Heavy Commercial Vehicles in the country. India is also emerging as a credible hub for R&D and vehicle development. Global majors (among OEMs) and several global Tier One suppliers have scaled up operations of their Indian technical centres and the quality and value of development in India is witnessing noticeable improvement. However, at this time, the most critical vehicle integration activities remain limited to the home centres of these overseas manufacturers. As infrastructure improves, both the government and industry will need to pay even greater attention to road safety. The safety record of India, as far as fatalities and serious injury is concerned is dismal. This will need to be addressed at all points: products, infrastructure and user behaviour. Dealer Role The environment, looking ahead, is expected to greatly increase the importance of contact with customers. Every manufacturer will need to strive even harder to ensure that customer experience with every aspect of contact with the product (through sales, after-sales service and product use and ownership) will exceed their expectations. Here the role of the dealer and the network is invaluable. The increased emphasis on brand and the importance of relationship with the customer will further change the way' we conduct our business. Increase in distribution reach will push up the sales of passenger cars, as it brings a large number of households into the target population. Typically, these households have the potential to purchase a car, but defer the decision due to the lack of sales and service infrastructure. With most urban centres covered by dealership networks, car manufacturers are looking for new dealerships in smaller towns to increase penetration and sales in semi-urban and rural areas. Current established dealers can help

OEM's scale up their networks quickly by setting up satellite dealerships along with service facilities in the neighbouring semi urban/rural areas. The vehicle parc in India has reached that critical level wherein secondhand vehicle business is expected to emerge in a more organised form than it is today. Availability of a good & credible secondhand vehicle market will not only help current owners upgrade to their next vehicle but will also bring a large number of new low budget customers into the vehicle ownership cycle. The time is ripe for dealerships to set up multi-brand secondhand vehicle trading and refurbishment facilities to expand the customer base in their respective locations. We are also witnessing a period of affordable cost for loans and easy availability of vehicle financing. This too causes us to view the future with some optimism. Conclusion The growing mobility needs of the people in India augur well for two and four wheeler industry. The cost advantage that India offers with respect to product development is fast establishing the country as an R&D hub. In addition, the credibility that India has gained as a cost effective manufacturing base for both small cars and two-wheelers is fuelling creation of capacities by all major manufacturers in the country. Likewise, economic growth and the Golden Quadrilateral project will also increase demand for road freight movement and this is bound to sustain the commercial vehicle industry's growth. The two-wheeler segments is expected to grow to 12 million units and passenger car segment to 2 million units by the end of this decade. However, this industry cannot be insulated from global trends where the state of industry provides pointers for caution. In conclusion, to survive and grow, the Indian Auto industry has to ensure product innovation and overall cost competitiveness. Finally, the customer will reign supreme and the success of OEMs and dealers in this department will spell the difference between success and failure.

The automobile industry is one of the largest industries in India as in many other countries. It plays a major role in the growth of economy in India. The automobile industry in India is the ninth largest in the world with an annual production of over 2.3 million units in 2008. The industry comprises automobiles and auto component sectors, which encompass passenger cars, two-wheelers, three-wheelers, tractors, commercial vehicles, multi- utility vehicles and components. Today, the Indian automobile industry is the world s largest motorcycle manufacturer, the second largest two-wheeler and tractor manufacturer, the fifth largest commercial vehicle manufacturer and the fourth largest car maker in Asia. Apart from serving the domestic market, the Indian auto sector has also become a sourcing hub for the

global auto giants. In 2009, India emerged as Asia's fourth largest exporter of automobiles, behind Japan, South Korea and Thailand. The Government of India has introduced an ambitious project of setting up world-class automotive testing and R&D infrastructure to place India in the USD 6 trillion global automotive business. This book details the current status and factors influencing the growth of the Indian automobile industry; its future prospects and the success stories of some automobile giants in India. It also focuses on the future growth of the industry as a result of the newly adopted technologies and strategies. India is set to emerge not only as a large domestic market for automotive manufacturers, but also as a crucial link in the global automotive chain. Among other industries, the automotive industry in India is understood to be the most dynamic. It has been experiencing strong growth rates after de-licensing of the industry in 1991, when major economic reforms took place in India. In this report we have studied the various trends and changes that had occurred over the years in this industry,...

V.II India: India is also an emerging market for worldwide auto-giants. Due to low cost of labor many multinational companies are investing in India. Its automotive industry hasgrown very rapidly from the middle of 1990s. Recently, there are two big investmentsexpected to boost the sector further, one is from Maruti and the other is from Honda Siel.Tatas proposed investment to manufacture cheap car is also expected to boost theindustry.India is the second most populated country in the World, and the growth rate of Indian economy is very high, which indicates the presence of huge demand in differentindustrial sectors. Automobile industry is not the exception in this regard. Indianautomobile sector has huge demands from its own country. This demand also attracts the 19giant automobile suppliers through out the world to come and invest in the Indianautomotive industry.Due to the contribution of many different factors like sales incentives,introduction of new models as well as variants coupled with easy availability of low costfinance with comfortable repayment options, demand and sales of automobiles are risingcontinuously.Government has also contributed in this growth by liberalizing the norms forforeign investment and import of technology and that appears to have benefited theautomobile sector. The production of total vehicles increased from 4.2 million in 1998-99 to 7.3 million in 2003-04. It is likely that the production of such vehicles will exceed10 million in the next few years.The increase in the exports of automobile sector is also due to the adaptation of international standards. After a temporary slump during 1998- 99 and 1999-00, suchexports registered robust growth rates in last few years. Investment is also a major factorfor this growth of Indian automotive industry, with investment exceeding US$ 11.11billion, the turnover of the automobile industry exceeded US$ 13.22 billion in 2002-03.The turnover has increased to US$ 18.5 billion by the end of 2004-05. Recently in 2006,Maruti invested US$ 0.67 billion and Honda invested US$ 0.2 billion on small cars. It isexpected that by the year 2016, the turnover of the Indian automobile sector could growto $145 billion. Today, this sector has emerged as a sunrise sector. However, theovercapacity problem is haunting many of the players as demand may not go upsignificantly. Hence, many players are looking for an external market for Indianautomobiles. The prospect of component industry is quite positive. The leading localfirms

have established over 200 technical cooperation agreements with foreign firms tobe able to reach international standards in cost and manufacturing Table 5 explains the segment wise production of vehicles. Between 2002 and2004 there has been major jump in production in almost all segments. During the period2000-01 to 2006-07, average growth of vehicle production was around 40%. Themajority of this growth has come from the growth of motorcycles and three wheelers.However, the growth of scooter has been only 4.72%. Passenger vehicles grew by 30% inlast six years. Despite the speculations of slow growth from different quarters due tounprecedented rise in input prices, the growth of passenger vehicles has been quiteimpressive in last two years. In 2004-05, installed capacity for four wheelers was 1.72million and for two and three wheelers it was 9.13 million. In India, domestic producers initially concentrated on producing small and basicmodels under a protective environment. Most of the foreign players in India have focusedon mid-range market (with exceptions such as Hyundais Santro) with the models whichhave been successful in other countries. Many MNCs took up a cautious approach till thetime Indian consumers are ready for big cars. It has been gradual but very steadyapproach. However, like Chinese market, Indian automobile sector also experiencedsurge of investment which led to overcapacity problem. Some companies changed theirstrategy and started exporting to tackle the demand related issue. The overall automotiveComponents sector is highly fragmented and has important quality problems. Over 300small and medium companies service directly more than 20 companies assemblingvehicles in the country, with as much as 5,000 other micro firms working for the first tiersuppliers and for the replacement market. Mostly due to regulation, component import For details refer to company websites. Source:http://www.siamindia.com/scripts/installed-capacities.aspx References Asia Times (online) (2005), Full speed ahead for Indonesias auto industry, Bill Guerin,http://www.atimes.com/atimes/Southeast_Asia/GG01Ae01.html Aswicahyono Haryo, Titik Anas & Yose Rizal , (1999), The Development of the IndonesianAutomotive Industry, Economics Working Paper Series, CSIS Working Paper Series,WPE051,http://www.csis.or.id/papers/wpe051 Boyle Stanley E.; Thomas F. Hogarty; (1975), Pricing Behavior in the American AutomobileIndustry, 1957-71; The Journal of Industrial Economics , Vol. 24, No. 2. Dec., pp. 81-95Copeland Adam, Wendy Dunn & George Hall; (2005) Prices, Production And Inventories, OverThe Automotive Model Year, Working Paper 11257, NBERDicken, P. (2003) Global Shift: Reshaping the Global Economic Map in the 21 st century, FourthEdition. London: Sage PublicationsFinan, William F. & Rappoport, Paul N (1982); The international trade in automobiles:Explaining short-run changes in the import share of the United States market, 1979-1981 ,

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