According to the Society of Indian Automobile Manufacturers (SIAM), auto sales in September 2013 fell 9.8% year-on-year (y-o-y), to 267,711 units. Although the sharp declines in passenger vehicle sales (includes passenger car, utility vehicle and van sales), which we saw in early 2013, have been staunched in Q313 due to base effects, we highlight that the sector still faces challenges for the rest of 2013. We forecast total vehicle sales to decline 4.6% in FY2013/14 (April-March), to 3.3mn units.

BMI Industry View 7

SWOT 9

Political 11

Economic 13

Business Environment 15

Industry Forecast 17

Production And Sales 17

      Table: India Autos Sector - Sales And Production, 2011-2018 17

Trade 18

      Table: India Autos - Trade, 2011-2018 18

Industry Forecast 21

Industry News 25

Passenger Vehicles 25

Forecast 25

      Table: India Autos Sector - Passenger Vehicles, 2010-2017 27

Industry Trend Analysis 27

Company Developments 30

Commercial Vehicles 34

Forecast 34

      Table: India Autos Sector - Commercial Vehicles, 2009-2017 34

Company Developments 36

Motorcycles 39

Sales 39

      Table: India Autos Sector - Two Wheelers, 2011-2018 39

Suppliers 42

Industry Developments 42

Macroeconomic Forecast 45

Economic Analysis 45

      Table: India - Economic Activity 49

Industry Risk Reward Ratings 50

Asia Pacific - Risk/Reward Ratings 50

      Table: Autos Risk/Reward Ratings Asia-Pacific 53

Company Profile 54

Company Monitor 54

Hyundai Motor India 58

Maruti Suzuki 59

Tata Motors 60

Mahindra & Mahindra 61

Bajaj Auto 62

Regional Overview 64

      Table: Vehicle Sales Sep 2013 (Cbus) 64

Global Industry Overview 71

Demographic Forecast 75

      Table: India's Population By Age Group, 1990-2020 ('000) 76

      Table: India's Population By Age Group, 1990-2020 (% of total) 77

      Table: India's Key Population Ratios, 1990-2020 78

      Table: India's Rural And Urban Population, 1990-2020 78

Methodology 79

Industry Forecasts 79

Sector-Specific Methodology 80

Sources 80

Risk/Reward Ratings Methodology 81

      Table: Automotive Risk/Reward Ratings Indicators And Weighting Of Indicators 82

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