India’s largest news, views and information broadcaster on automotive and allied industries, The Economic Times Auto (ETAuto), has introduced ETAutolytics (www.etauto.com/autolytics ), a comprehensive business research tool that will empower automotive manufacturers, auto parts suppliers and auto dealers to make data driven business decisions in order to bring greater efficiency to their operations and maximise profitability of their enterprise.
ETAutolytics provides smartly curated, authenticated and easily searchable data, forecast, trend and highly implementable information and insights about the Indian automotive market and enables companies to save time and money by quickly accessing them before making business decisions instead of conducting independent market research or trying to find relevant and necessary facts and figures on their own.
“The idea of ETAutolytics germinated after frequent interactions with the industry leaders who felt though there were business analytics tools available for the auto industry, none of them had India specific data, information and insights and so was not catering to the needs of the Indian auto industry. With its sharp focus on the Indian automotive market, ETAutolytics seeks to fill this gap,” said Amit Kumar Gupta, Business Head, Economic Times Verticals (Digital).
“ETAutolytics aims to make lives of the auto industry executives easy by providing data, analytics and trends at one place at an ease of click which may take a lot of time otherwise. This will also help the industry executives make informed business decisions. Currently, we are unveiling the phase one of ETAutolytics which will evolve further in due course and will have more features and information,” said Nabeel A Khan, Editor, ETAuto.
In the first phase, ETAutolytics’ key offerings include Vehicle Trends, Financial Stats, News and Forecast, Who Supplies Whom, and Competitor & Client Analysis.
ETAutolytics has been developed with consistence feedback from industry captains. During the last three months, the features were shown to over 100 top industry leaders and experts for their views on the offering.
Rama Shankar Pandey, MD, Hella India Lighting Ltd and Co-Chair, Consumer Affairs & Anti-Counterfeit Committee, ACMA, calling it “impressive”, said, “ETAutolytics is a good tool to make sense of various data points which are otherwise not available in public domain. In this era of Economy 4.0, which will be driven by data and digitisation, this kind of analytic tool will help the auto component industry to execute new business models with highly predictable ROI outcome.”
Indian Auto Industry: An Overview
India is currently the sixth largest vehicle producer country in the world with an average annual production of 24 million vehicles, of which 3.64 million are exported. The automotive industry accounts for 7.1% of the country’s gross domestic product GDP, 45% of the country’s manufacturing GDP, and employs about 19 million people directly or indirectly.
The country is the largest motorcycle manufacturer, the second largest two-wheeler manufacturer, and the fifth largest passenger vehicle manufacturer in the world. The share of passenger vehicles, commercial vehicles, three-wheelers and two-wheelers in the country’s automotive market during the 2015-16 fiscal was 14%, 3%, 3% and 80%, respectively.
The Indian automotive component sector registered a turnover of $39 billion in 2015-16 and contributed 2.3% to the country’s GDP. In the last financial year, the auto component exports contributed 4% to India’s overall exports. The contribution of auto component industry in India’s GDP is expected to account for 5-7% by 2026. Exports of auto components grew at a CAGR (compound annual growth rate) of 14% to $10.8 billion in FY 2015-16 from $3 billion in FY 2005-06. The auto aftermarket sector has been growing at a CAGR of 12%.