VISION STATEMENT

The vision of Hinduja Foundries Limited is

to build global quality standards into its c a s t i n g s , a l w a ys k e e p i n g i n v i e w t o t a l
c u s t o m e r s a t i s f a c t i o n a n d c o n t i n u o u s improvement as the core of its activities

AUTOMOTIVE INDUSTRY INDIAN SCENARIO

Due to the economic slowdown, some of the sectors including the automotive and capital
goods are faced with demand slowdown that is unlikely to turnaround quickly.

According to the industry data released by Society of Indian Automobile Manufacturers

(SIAM), car sales in the country fell for record nine month in a row in July 2013, declining
7.4 % and vehicle sales across all categories dropped 2.08% to 14.15 Lakh units in July 2013
from 14.45 Lakh units a year earlier primarily because of high interest rates, inflation,fuel
prices and lower disposable income in a slowing economy have all dampened buying
sentiment. As a consequence, the Foundry Industry, which is predominantly dependent on
auto industries has been severely affected.

India

Tata Safari (1998; India's first sports utility vehicle)

Main article: Automotive industry in India

An embryonic automotive industry started in India in the 1940s. However, for the next
50 years, the growth of the industry was hobbled by the Socialist policies and the
bureaucratic hurdles of the license raj with total restrictions for import of vehicles. Following
economic liberalisation in India from 1991, and the gradual easing of restrictions on industry,
India has seen a dynamic 17% annual growth in automobile production and 30% annual
growth in exports of automotive components and automobiles. More than 3.9 million
automotive vehicles were produced in India in 2011 (an increase of almost twice since 2005
and more than ten times since 1990), making the country the sixth largest automobile
producer (beating such old and new auto makers as Belgium, United Kingdom, Italy, Canada,
Mexico, Russia, Spain, France, Brazil) and the second fastest growing automobile market
(after China) in the World.[22] Total turnover of the Indian automobile industry is expected to
grow from USD 34 Billion in 2006 to USD 122 Billion in 2016.[23]

The Largest automotive companies in India are Maruti Suzuki, Hyundai Motor India, Tata
Motors and Mahindra & Mahindra. Tata Motors launched Tata Nano, the cheapest car in the
world at USD 2200.[24] Foreign auto companies with plants in India include, General Motors,
Ford, Hyundai, Honda, Suzuki, Nissan Motors, Toyota, Volkswagen, Audi, Skoda, BMW,
Renault, Mitsubishi, Jaguar Land Rover, Fiat and Mercedes Benz. Many other global
automobile giants such as PSA Peugeot Citron, Volvo are setting up their plants and Lexus,
Infiniti are about to set up their manufacturing plants in this country