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1. Passenger Vehicles Market – India
June 2017
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2. Passenger Vehicle Market in India 2017
Executive Summary
Market Overview
Drivers and
Challenges
Competitive
Landscape
 India has the fifth largest passenger vehicle and commercial vehicle market
 The Indian auto industry accounts for X% of the country's GDP
 The sales of passenger vehicles grew by X% during the FY 2017 (Apr-Jan)
 Domestic passenger cars’ sales rose by X% in Apr 2017 compared to Apr 2016
 Domestic sales of passenger cars surged to xxx units in FY 2017 from xxx sold in FY 2016
 The Government of India has allowed 100% FDI in automobile sector in India
 Increase in rural demand and new launches have yielded strong growth in the first half of FY 2017 and the market is expected to grow by X% in FY
2017
 Company 1 is the market leader in the domestic passenger vehicle segment followed by Company 2 and Company 3
Drivers
 Rise in income
 Implementation of GST
 Introduction of disruptive technologies
 Make in India campaign
Challenges
 Effect of demonetization
 Ban on sale and registration of BS III vehicles
 Ban on diesel cars
Major Players
Mahindra & Mahindra Ltd. Maruti Suzuki India Ltd. Tata Motors Ltd. Ford India Pvt. Ltd.
Honda cars India Ltd. Hyundai Motor India Ltd Renault India Pvt. Ltd. Toyota Kirloskar Motor Pvt. Ltd.
2

3. Socioeconomic Indicators
Market Overview
Market Influencers
Competitive Landscape
Recent Developments
Appendix
3
Trade Analysis

4. Passenger Vehicle Market in India 2017
Socioeconomic Indicators
Total Population
4
Population Density
1,500
1,000
500
0
mn X%
2020
k
2019
j
2018
i
2017
h
2016
g
2015
f
2014
e
2013
d
2012
c
2011
b
2010
a
0
100
200
300
400
500
Persons per sq. km
e1
2013
d1
2012
c1
2011
b1
2010
a1
j1
2018
i1
2017
h1
2016
g1
2015
f1
2014
k1
2020
Y%
2019

5. Passenger Vehicle Market in India 2017
Market Definition & Structure
5
• A passenger vehicle is a road motor vehicle, other than a motor cycle, intended for the carriage of passengers
• A passenger car is any car designed for carrying fewer than ten people
• ~70% of journeys are made by car, be it a private car, taxi or car sharing
Passenger Vehicles
xxxxxx xxx
xxx
xxxxxx
xxx
xxx
Focus of Study

6. Passenger Vehicle Market in India 2017
Market Overview – Passenger Vehicles
6
Passenger Vehicles Market Size & Growth Historical
4,000
1,000
3,000
0
2,000
FY 2015
x x
FY 2014
x
FY 2012 FY 2013
x
‘000 Units
x
FY 2016
X%
FY 2017
x
FY 2011
x
Passenger Vehicles Market Size & Growth Forecasted
8,000
2,000
4,000
6,000
0
10,000
x x x
FY 2018e FY 2020eFY 2017 FY 2019e
x x
x
FY 2026e
‘000 Units
X%
x
FY 2024e
x
x
FY 2022e FY 2023e FY 2025e
x
FY 2021e
Market size is represented in terms of total domestic sales

7. Passenger Vehicle Market in India 2017
Market Overview – Passenger Cars
7
Passenger Cars Market Size & Growth Historical
2,500
2,000
1,500
1,000
500
0
X%
FY 2017
x
FY 2016
x
FY 2015
x
FY 2014
x
FY 2013
x
FY 2012
x
FY 2011
x
‘000 Units
Passenger Cars Market Size & Growth Forecasted
6,000
4,000
2,000
0
‘000 Units
X%
FY 2026e
x
FY 2025e
x
FY 2024e
x
FY 2023e
x
FY 2022e
x
FY 2021e
x
FY 2020e
x
FY 2019e
x
FY 2018e
x
FY 2017
x

8. Passenger Vehicle Market in India 2017
Market Overview – Utility Vehicles
8
Utility Vehicles Market Size & Growth Historical
800
600
400
200
0
‘000 Units
X%
FY 2017
x
FY 2016
x
FY 2015
x
FY 2014
x
FY 2013
x
FY 2012
x
FY 2011
x
Utility Vehicles Market Size & Growth Forecasted
4,000
3,000
2,000
1,000
0
‘000 Units
X%
FY 2026e
x
FY 2025e
x
FY 2024e
x
FY 2023e
x
FY 2022eFY 2021e
x
FY 2020e
xx
FY 2019e
x
FY 2018e
x
FY 2017
x

9. Passenger Vehicle Market in India 2017
Market Overview – Vans
9
Vans Market Size & Growth Historical
250
200
150
100
50
0
x
FY 2013
‘000 Units X%
FY 2017
x182
FY 2016
x
FY 2015
x
FY 2014
x
FY 2012
x
FY 2011
x
Vans Market Size & Growth Forecasted
250
200
150
100
50
0
‘000 Units
X%
FY 2026e
x
FY 2025e
x
FY 2024e
x
FY 2023e
x
FY 2022e
x
FY 2021e
x
FY 2020e
x
FY 2019e
x
FY 2018e
x
FY 2017
x

10. Passenger Vehicle Market in India 2017
Market Overview
10
Current Market Scenario
• Passenger vehicles market in India has grown at a CAGR of X% between FY 2011 and FY 2017 and is expected to grow at a rate of X% between FY 2017 and FY 2026
• Under Auto Mission Plan 2016-2026, the passenger vehicles market is expected to reach X mn units by FY 2026
• Passenger vehicle segment has witnessed the fastest growth at a CAGR of X% during FY 2006 – FY 2016
• Utility vehicles sales is expected to cross X mn units by FY 2020
• The demand of utility vehicles is increasing at a faster rate as compared to passenger cars and vans
• The overall Passenger Vehicle (PV) segment has X% share in the Indian automobile market
• xx

11. Passenger Vehicle Market in India 2017 11
Category-Wise Passenger Vehicles Production Trend
Category-Wise Passenger Vehicles Exports Trend
Market Overview (Continued)
0
800
600
400
200
‘000 Units
FY 2016 (Apr-Sep)
x
X% X%
X%
FY 2015
x
X%
X%
X%
FY 2014
x
X% X%
X%
FY 2013
x
X% X%
X%
FY 2012
x
X% X%
X%
FY 2011
x
X% X%
X%
VansUtility VehiclesPassenger Cars
2,000
3,000
4,000
1,000
0
X%
X%
X%X%
X%
X%
FY 2012
x
X%
X%
X%
FY 2011
x
X%
X%
X% X%
X%
FY 2013
x
X%
x
‘000 Units
X%
X%
x
FY 2016 (Apr-Sep)FY 2015FY 2014
x
X%
VansUtility VehiclesPassenger Cars

12. Passenger Vehicle Market in India 2017 12
Category-Wise Passenger Vehicles Sales
Market Overview (Continued)
Category-Wise Passenger Vehicles Domestic Sales Trend
X%
X%
X%
Category 3Category 2Category 1
X%
X%
X%
Total Passenger Vehicle Sales: xxx units
FY 2016 FY 2017
Total Passenger Vehicles Sales: xxx units
4,000
3,000
2,000
1,000
0
‘000 Units
FY 2017
x
x
x
FY 2016
x
x
x
FY 2015
x
x
x
FY 2014
x
x
x
FY 2013
x
x
x
FY 2012
x
x
x
FY 2011
x
x
x
Category 3Category 2Category 1

13. Passenger Vehicle Market in India 2017 13
Region-Wise Passenger Vehicles Sales (FY 2015)
Market Overview (Continued)
Player-Wise Sales of Passenger Vehicles – Units Sold
State-Wise Sales of Passenger Vehicles (FY 2016)
X%
X%
X%
X%
Region 4
Region 3
Region 2
Region 1
X%
X%
X%
X%
X%
X%
State 6
State 5
State 4
State 3
State 2
State 1
X%
X%
X%
X%
X%
X%
X%
X%
Player 8
Player 7
Player 6
Player 5
Player 4
Player 3
Player 2
Player 1 X%
X%
X%
X%
X% X%
X%
Mar 2016 Mar 2017

14. Passenger Vehicle Market in India 2017 14
Market Overview (Continued)
Player-Wise Sales of Passenger Vehicles – Units Sold
X%
X%
X%
X%
X%
X%
Category 6
Category 5
Category 4
Category 3
Category 2
Category 1
X%X%
X%
X%
X%
X%
X%
X%X%
X%
X%
X%
X%
X%
X%
Player 9
Player 8
Player 7
Player 6
Player 5
Player 4
Player 3
Player 2
Player 1
X%
X%
X%
X%
X%
X%
X%
X%
X%
FY 2014 FY 2015
Category-Wise Exports of Passenger Vehicles
FY 2014 FY 2015

15. Passenger Vehicle Market in India 2017 15
Market Overview (Continued)
X%
X%X%
X%
X%
X%X%
X%
Company 8
Company 7
Company 6
Company 5
Company 4
Company 3
Company 2
Company 1
X%
X%X%
X%
X%
X%X%
X%
Company-Wise Market Share in Domestic Sales of Passenger vehicles
FY 2014 FY 2015

16. Passenger Vehicle Market in India 2017
Market Segmentation
16
• XXX has maintained its stronghold on the Indian passenger car market
with seven of its models in the top ten best selling cars list in FY 2017
• XXX small car XXX retained the top seller tag for the 13th consecutive
year
• xx
• Domestic car sales during FY 2017 grew X% to xxx units from xxx units in
the FY 2016
• Maruti Suzuki India has witnessed a growth of X% in its domestic sale in
FY 2017
• xx
Product-Wise Segmentation (FY 2017)
Player-Wise Segmentation – Top 5 Companies by Sales (FY 2017)
x
X%
X%
X%
X%
X% X%
X%
X%
X%
Brand 10
Brand 9
Brand 8
Brand 7
Brand 6
Brand 5
Brand 4
Brand 3
Brand 2
Brand 1
X%
X%
X%
X%
X%
Player 5
Player 4
Player 3
Player 2
Player 1
List represents only top selling models

17. Passenger Vehicle Market in India 2017
Export : HS Code 8703
17
Export (Value)
0
100
200
300
400
INR bn X%
FY2017 (Apr-Feb)
x
FY2016
x
FY2015
x
FY2014
x
FY2013
x
Country-Wise Segmentation (Value-Wise)
x%
X%
X%
X%
X%
X%
X%
Country 7
Country 6
Country 5
Country 4
Country 3
Country 2
Country 1
X%
X%
X%X%
X%
X%
X%
Country 7
Country 5
Country 6
Country 4
Country 3
Country 2
Country 1
FY2016 FY2017 (Apr-Feb)

18. Passenger Vehicle Market in India 2017 18
Import (Value)
0
10
20
30
INR bn
X%
FY2017 (Apr-Feb)
x
FY2016
x
FY2015
x
FY2014
x
FY2013
x
Country-Wise Segmentation (Value-Wise)
X%
X%
X%
X%
X%
X%
X%
Country 7
Country 6
Country 5
Country 4
Country 3
Country 2
Country 1 X%
X%
X%
X%
X%
X%
X%
Country 7
Country 6
Country 5
Country 4
Country 3
Country 2
Country 1
FY2016 FY2017 (Apr-Feb)
Import : HS Code 8703

19. Passenger Vehicle Market in India 2017
Market Drivers
19
• Increasing working population and rise in
income of middle class is one of the key
demand drivers in passenger car market
 India’s GDP grew by X% between FY 2016
and FY 2017, and is expected to grow at
7X% between FY 2017 and FY 2018
• With the enactment of 7th pay commission
in India, the salaries of government
employees is expected to rise and will
broaden the purchasing power of
customers
 State government employees will get a hike
of X% in their salaries
 Central government employees will get a
hike of X% in their salaries
• India is a home to a large number of high
net worth individuals and is expected to
grow at a rate of X%
• Rise in income will provide momentum to
the passenger cars market in India
Rise in income Implementation of GST Introduction of disruptive technologies

20. Passenger Vehicle Market in India 2017
Competition
20
List of Major Players
Name Website
Company 1
Company 2
Company 3
Company 4
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10

21. Passenger Vehicle Market in India 2017 21
Company Information
Products and Services
Category Products/Services
XX XX
Corporate Address
Tel No.
Fax No.
Website
Year of Incorporation
Stock Exchange : Ticker
Key People
Name Designation
Person 1 Chairman and Managing Director
Person 2 Chief Executive Officer
Person 3 Group President
Person 4 Chief Financial Officer
Business Description
• XX
Public: Domestic Company – Company 1

22. Passenger Vehicle Market in India 2017 22
Key Ratios
Particulars 2013 2014 2015 2016
Profitability Ratios
Gross Margin %
Net Income Margin %
EBITDA Margin %
EBITA Margin %
EBIT Margin %
Return on Assets %
Return on Capital %
Return on Equity %
Return on Common Equity %
Liquidity Ratios
Current Ratio
Quick Ratio
Leverage Ratios
Total Debt/Equity
Total Debt/Capital
Interest Coverage
Efficiency Ratios
Total Asset Turnover
Fixed Asset Turnover
Accounts Receivable Turnover
Inventory Turnover
Financial Snapshot
Key Financial Performance Indicators
Indicators Value (13/02/2017)
Market Capitalization (INR mn)
Total Enterprise Value (INR mn)
EPS (INR)
PE Ratio (Absolute)
Net Profit / LossTotal Income
0
500
1,000
1,500
0
10
20
30
40
50
60
INR mn
FY 2016
XX
XX
FY 2015
XX
XX
FY 2014
XX
XX
FY 2013
XX
XX
INR mn
Public: Domestic Company – Company 1 (Continued)

23. Passenger Vehicle Market in India 2017 23
Key Business Segments Key Geographic Segments
0%
20%
40%
60%
80%
100%
XX%
XX%
Xx%
FY 2013
XX%
XX%
XX%
FY 2014 FY 2015
XX%
FY 2016
0%
20%
40%
60%
80%
100%
FY 2016
XX%
Country 1Segment 3Segment 2 Segment 4Segment 1
Public: Domestic Company – Company 1 (Continued)
Company 1 has been operating solely
in Country 1 over the last four years

24. Passenger Vehicle Market in India 2017 24
Company Information
Products and Services
Category Products/Services
XX XX
XX XX
XX XX
Corporate Address
Tel No.
Fax No.
Website
Year of Incorporation
Key People
Name Designation
Person 1 Chairperson
Person 2 Managing Director
Person 3 Director (Finance)
Person 4 General Manager (HRD / Projects)
Business Description
Private: Domestic Company – Company 2

25. Passenger Vehicle Market in India 2017
Recent Developments
25
Date Category Description Impact
Apr 20, 2017 Product Launch Medium
Apr 11, 2017 Collaborations & Partnerships Medium
Mar 10, 2017 Collaborations & Partnerships Medium
Feb 16, 2017 Collaborations & Partnerships Medium
Feb 15, 2017 Collaborations & Partnerships Medium
Jan 13, 2017 Product Launch High

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