Automotive - Ernst & Young - India

The Indian automotive industry is poised at an exciting juncture. It is a key contributor to India's economic growth at 4.2% of GDP and the industry’s turnover is estimated to touch USD 155 bn by 2016 as the world’s seventh largest automobile market and the world's third largest by 2030, just behind China and the US.

The global automotive sector is currently experiencing a significant downturn. Rapidly declining demand, frozen credit markets and depressed market confidence are forcing automotive companies to re-think their business strategies and operational tactics. In India, the adverse impact is quickly becoming evident with vehicle manufacturers reporting sharp decline in sales, production cutbacks and margin pressures during the last quarter of 2008.

In these difficult market conditions, a “business as usual” approach may no longer be a viable response. While individual organizations have limited influence over macro economic factors, a pro-active approach with a sharp focus on managing the evolving scenarios should enable your organization to minimize the impact of the economic slowdown and protect the business in these uncertain times. We work with many of the world’s leading automotive businesses in tackling their key strategic and operational challenges. And if it’s fresh thinking you want in these times, Ernst & Young can help.

We bring together a worldwide team of professionals with deep industry and technical experience in providing assurance, tax, transaction and advisory services. Our team engages with industry stakeholders through research, thought leadership and events to develop insights and services that meet your industry’s evolving requirements. Our Global Automotive Centers enable us to address the specific challenges your organization faces. Operating between Detroit, Stuttgart, Shanghai and Tokyo, the Center’s focuses on the mega trends driving the changes within the industry.

We can help you build the capabilities you need to compete profitably in your markets and help your organization achieve its business potential.