Innovation in Automobile Industry
Innovation has brought about a sea change in the Indian automotive sector, where slick styling, technology and new models have become the formula for success.
These very factors led to the instantaneous success of Suzuki when it first rolled out the technologically superior Maruti 800 into the traditional Indian market.
Even today it is the technology and a high degree of indigenisation, which have helped MUL attain a price barrier, which is very difficult for competition to penetrate.
This coupled with governmental support have perhaps been the clinchers for MUL's progress, despite recent competition from the likes of global players like Daewoo, Hyundai, General Motors Ford and the indigenously designed Tata - Indica.
However, what auto companies need to do is develop ergonomic products, with slick styling, at an affordable price for the quality conscious Indian market. This can easily be done by commissioning any international design house.
Indian auto companies need to take corrective measures to counter balance the shift in demands from motorcycles to cars. This is where Indian companies which do not have joint ventures with international automotive majors might well lag behind.
Especially since, the development of fuel-efficient cars in-house is a long and arduous task, involving huge financial and manpower investments.
It is in this department that foreign companies are already miles ahead. Thus one option, which might well become quite popular for Indian auto companies, is the joint venture route with an international major.
The projected growth factors in an anticipated export thrust, as product quality and cost efficiencies go up in the auto industry.
Innovation has brought about a sea change in the Indian automotive sector, where slick styling, technology and new models have become the formula for success.
These very factors led to the instantaneous success of Suzuki when it first rolled out the technologically superior Maruti 800 into the traditional Indian market.
Even today it is the technology and a high degree of indigenisation, which have helped MUL attain a price barrier, which is very difficult for competition to penetrate.
This coupled with governmental support have perhaps been the clinchers for MUL's progress, despite recent competition from the likes of global players like Daewoo, Hyundai, General Motors Ford and the indigenously designed Tata - Indica.
However, what auto companies need to do is develop ergonomic products, with slick styling, at an affordable price for the quality conscious Indian market. This can easily be done by commissioning any international design house.
Indian auto companies need to take corrective measures to counter balance the shift in demands from motorcycles to cars. This is where Indian companies which do not have joint ventures with international automotive majors might well lag behind.
Especially since, the development of fuel-efficient cars in-house is a long and arduous task, involving huge financial and manpower investments.
It is in this department that foreign companies are already miles ahead. Thus one option, which might well become quite popular for Indian auto companies, is the joint venture route with an international major.
The projected growth factors in an anticipated export thrust, as product quality and cost efficiencies go up in the auto industry.