The number of vehicle makers who have confirmed attendance for the upcoming edition of the show is four times that seen in 2023, and highest-ever since the auto expo started in 1986.
The participation is also significantly higher than that seen at the ‘Big Five’ – the five major auto shows held globally in Geneva, Munich, Detroit, Paris and Tokyo – where participation has been dwindling amid high costs and lower footfalls. While 13 carmakers participated at the Munich Auto Show in its latest edition, 20 showed up for the Geneva Motor Show held between Feb 26 and March 3 this year. The mobility shows in Paris and Tokyo saw participation from 11 and 22 vehicle makers, respectively. Around 13 automakers showcased 35 vehicle brands at the Detroit Auto Show last year.
In addition to legacy players who opted out of the show in the previous edition, around half a dozen new entrants are set to debut their products at the Bharat Mobility Show next year. These include Vietnamese electric carmaker VinFast, TI Clean Mobility, Porsche and Vayve Mobility.
Besides vehicle makers exhibiting products at Bharat Mandapam, more than 500 auto parts makers are expected to participate in the component show to be held at the Yashobhoomi Convention Centre, Dwarka. Separate shows exhibiting construction equipment machinery and urban mobility solutions are scheduled simultaneously at India Expo Mart in Greater Noida.
China Expos
The heightened interest in the Bharat Mobility Show comes at a time when China too has been upping the ante by hosting large-scale auto expos in Beijing and Shanghai to showcase its technological prowess in the automotive landscape globally. Automakers put on display 278 vehicles, including 117 new ones, at the Beijing Auto Show in April this year.The number of exhibits at the Bharat Mobility Show too is expected to be substantially higher in the upcoming edition with carmakers like Maruti Suzuki and Tata Motors expected to unveil and launch production-ready EV models, industry sources said. About 75 vehicles were unveiled and launched at the Auto Expo in 2023.
“Major auto markets like the United States, Germany and Japan are yet to breach the pre-Covid peak in production seen in 2019, However, emerging markets like India and China have both recovered strongly. India has set new records buoyed by robust domestic demand the past two years, which is making all leading automakers bank on the market here for future growth,” Gaurav Vangaal, principal analyst (light vehicle production forecasting, Indian sub-continent), S&P Global Mobility, said.
India was the fastest growing among the top 10 automobile markets in light vehicle sales (below 6 tonnes) in 2023. Among major auto markets, India, China and South Korea are the only ones to have breached volumes reported in 2019.
A senior industry executive, who did not want to be identified, said, “India is a growing economy and the demand for transportation here will only increase in the coming years. As much as 65% of the country’s population is aged less than 35 years, a demographic which together with rising per capita income will fuel consumption.” Per capita income in India is on a rise and is expected to more than double to $4,800 by 2030 from $1,900 in 2020.
Carmakers in India have been clocking bumper sales the past two years buoyed by pent-up demand immediately after the pandemic, growing 8.4% to its highest-ever mark at 4.22 million units in FY24 and by 27% to 3.89 million units in FY23. Passenger vehicle sales had peaked at 3.38 million units prior to the pandemic, in FY19. While the growth rate has been moderate in the ongoing fiscal year on a high base, the market for passenger vehicles here is expected to grow by 50% by the turn of the decade.