Automobile Businesses for sale
The auto industry contributes 7.1 per cent to the country's Gross Domestic Product (GDP) and grew at a compound annual growth rate of 9.6 per cent which was largely driven by the two-wheeler segment. The sector is expected to become the third largest market of vehicles globally. The other segments within the industry are passenger vehicles, commercial vehicles and electric vehicle. The auto industry is amongst the majorbuyers of various significant industrial products, such as steel. The industry employs a large number of people and thus is a fundamentalinfluencer of economic growth. The industry is also an enabler to various other industries namely tyre manufacturing industry, auto component, auto resale along with car servicing and repair markets. Large automotive clusters are emerging in the industry and many R&D centers are being set up many global players. The electric vehicle segment is expected to emerge as huge investment and growth area in the coming decade.