more will have to be produced and sold there is no other alternative to reach 10 of gdp in the next five years it needs to plan and execute on three critical fronts advt produce more 2wheelers 3wheelers buses and lcvsthese three product segments are what will lead to change at a market penetration level of 126 twowheelers per 1000 and just 13 buses per 1000 as per siam data the industry has a long way to go penetration of cars can take a back seat for the next five years as it is directly proportionate to the number of people upgrading from twowheelerstwowheelers and threewheelers are the backbone of our economic growth both as a business tool and a symbol of sustainable employment there needs to be a concerted effort by the government and industry to work on increasing affordability by lowering gst and providing massive incentives to fleets and ecommerce platforms they are also the quickest adopters of electric technology and so will provide the foundation for greater adoption of clean energyas more of the developed economies start closing trade borders even for components the indian automobile industry needs to play the role of a valuepacked solution to the developing and emerging economiessiam data shows that with an installed capacity of 2756 million in 201617 the industry produced 2570 million in 201819 before the economic contraction started well before the covid19 crisis this was a terrific 93 capacity utilisation in contrast to the 55 for fourwheelers though fy21 will be a terrible one as per icra ratings with domestic sales contracting by 1618 to 17 million units due to macroeconomic factors the very revival of the economy will also be riding on a revival of this product segment there obviously needs to be a capacity enhancement in the immediate future to spearhead this growth source et prime the pv sector needs to play second fiddle to 2wsbuses have been neglected for long as being the end of the value chain at a penetration of merely 13 per 1000 this sector has a long way to go in fact being high ticket items with the right gst and incentive structure public transport can truly be democratically public after more than 70 years of independencelcvs have always remained as the poor cousins of the big and brawny trucks it is time they took centrestage being along with the twowheeler one of the key engines of growth through engagement and employment as infra projects will always be dependent on budget releases and allocations mcvs and hcvs will be tied to unstable external factors the lcv as a tool of individual enterprise will be crucial to sustainable growth across sectors and applicationsexport export exportthe industry has regularly underperformed in the export of vehicles twowheelers are the only positive news here in numbers but exports have never gone beyond 25 of domestic sales in any segment and this is where the potential liessource siamsource statistaas more of the developed economies start closing