An Investigation on Turbulent Times of Passenger Vehicle Segment in India

Indian Automobile sector is fifth largest in the world. The number of manufacturers, Associated MSME's, foreign brands, Luxury brands and several notable new comers flood the market every year. Passenger is vehicle the main contributor for automobiles in India. But why is this segment struggling to pose a sustainable growth Several analysts forecast that India would reach third in PV among all nations provided with this set of infrastructure and other aspects in the year 2030. There are several explanations for this. This research paper examines the actual reasons for the slow growth of the PV segment namely COVID 19 impact, Inflationary situation, Semiconductor shortage and Fuel price surge. This paper also portrays the actions taken by the manufacturers, dealers and Government to safe guard this industry from economic failure as well seeking in hope that PV segment can revive itself overtime with strategic actions. Dr. R. Josphin | Dr. D. Kesavan | Dr. N. Mari Anand | T. Srimathi | Dr. V. Vetrivel "An Investigation on Turbulent Times of Passenger Vehicle Segment in India" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-1 , December 2021, URL: https://www.ijtsrd.com/papers/ijtsrd49114.pdf Paper URL: https://www.ijtsrd.com/other-scientific-research-area/other/49114/an-investigation-on-turbulent-times-of-passenger-vehicle-segment-in-india/dr-r-josphin