Impact of Financial Crisis on the Financial Performance of the Indian Automobile Industry
Posted: 8 Nov 2011
Date Written: November 8, 2011
Abstract
India – a country diverse in culture and religion, strong in will – and manpower, large in size and opportunities – has become a highly wooed automobile market. Despite the impact of the financial and economic crisis, India’s automobile economy is booming. Due to global financial crisis various sectors of industries were affected. In this connection here we tried to judge the impact of financial crisis on Indian Automobile Industries with the help of statistical significant techniques. On the analyses of the T-Test and Analysis of Variance, it is found that the impact is not significant which proves that though the global economies are impacted by recession, the Indian Automobile Sector showed resilience and was not affected significantly by the recession. It goes to show that the Indian automobile market, though impacted by export income, did not crumble under recession, as the volumes were significantly met by local demand, thereby proving that the Indian economy is a self sustaining economy, not significantly impacted by the Financial Crisis.
Suggested Citation: Suggested Citation