INTRODUCTION
In India, there is always the boom of the automobile industry sector as many people in India prefer to have their own car rather than using public transport.
As earlier, when there is nothing like private cars or automobiles, people usually depend on government services to travel from one place to another.
Today’s market vs Earlier market
Nowadays, everyone focuses on the stocks of automobile companies as the petrol and diesel rate hiked up, and people are shifting their old vehicles with the new EV.
Which makes the market more volatile as tesla announces that they will create their tesla showroom in India only if import duty were reduced?
Early on, no one bothered about what kind of car to use, but nowadays, people usually go with the EV manufacturing companies; as the demand for EV increases in India, everyone is crazy about what kind of EV model suits them and what will be its cost.
Does politics play any role in it?
As you already know elections are close, and every party wants to win an election, and to win the election they decreased the petrol and diesel price in those states.
This leads to the conflict that this is how our government treats the law of equality as mentioned in our constitution by Dr. Baba Sahib Ambedkar in 1950.
Early on government hiked the price above Rs.100 and now decreased it by Rs.6 to 5 in states. Does petrol shortage cause the death of 1,000,000 of individuals to die?
The autorickshaw drivers shift their vehicles to CNG or EV. To avoid the extra expense caused by the price hike by the government.
How did the Automobile industries perform when petrol and diesel were over?
In the future, we already know that we have to rely on renewable sources like wind, solar energy, or other sources.
So as per Elon musk, we must switch our dependence on non-renewable to renewable resources; otherwise, be ready for the futile future.
Future of Automobile Industry
The future depends on our own hands as we decide to reduce the use of non-renewable resources earlier than doomsday, leading to the “j” curve growth of human civilization.
The future vehicle is like a solar energy drive vehicle or EV or some new invention like this, which provides us with green energy.
As we see around us, the changes in the transport system like people started to use public vehicle rather than their cars.
Government can help us to save us from the shortage of non-renewable resources by providing better public transport facilities like new infrastructure for railways, bus stands, and metro stations.
Government can deduct more tax from the individual having their own cars as Singapore used to do with their citizen.
So, Government should make a proper timetable to manage the bus and train schedule so that no one can excuse being late due to traffic or the bus/train being late.
As automobile industry contributes a large fraction to India’s GDP, about 3-3.5%, which is about Rs.7.5 lakh cores annually.
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