Report - 07/Nov/2014: Indian automobile industry is deeply rooted with our socio-economic conditions and also often referred to as engine of growth. It impacts the lives of common man and the elites equally. Here are some facts about this industry which everyone needs to know.
1. The auto industry currently contributes 18% to the country\'s total excise revenue. 2. On every Rs 100 you spend to buy a small car, approximately Rs 56 goes to the government in the form of various taxes. 3. On every Rs 100 you pay to buy luxury cars, SUVs, approximately Rs 82 goes to the government in the form of various taxes. 4. Auto industry generates employment of 13 persons for each truck, 6 persons for each car and four persons for each three wheeler and one person for two-wheelers. 5. Auto industry currently employs 19.5 million people both directly and indirectly.
6. If the industry produces as per its potential, it could generate employment of over 35 million people by 2016. 7. Auto industry contributes 25% to the total manufacturing GDP. 8. There are 16 passenger vehicles per 1000 people in India. 9. On every 1000 people only 85 persons have two-wheelers. 10. According to Automotive Mission Plan 2006-16 auto industry turnover was to reach $145 billion by 2016 but it is expected to be just over US$110 billion, a shortfall of about 25%.