The road ahead for the automobile industry in India and other emerging economies

Abstract

The domestic US economy has almost always been impacted significantly due to the ups and downs faced in the 20th century by its automobile industry. It was possible to gauge the health of the economy based on the number of new cars added to the market every year. But couple of recessions and more so the one in 2007-08 has hit this industry very badly as the number of new cars sold in the market have plummeted heavily owing to the sharp slump in spending by its consumers