Accident deaths have become a chilling phenomenon on overcrowded Indian roads. Now, the country is gearing up to roll out the best practices in safety standards.

JATO Dynamics CEO predicts that by 2020, India would overtake Germany and Brazil to emerge as the third largest passenger car market globally.

Maruti is opening to re-invent itself for the premium segment. The idea is to shed its image as a maker of budget cars. NEXA, it says, will offer options to customers looking for upgrades.

Toyota's two new launches in the next three years will aim at the higher end, where wealthier middle-class Indians want safety and quality rather than just a brash sound system.

Tata Motors' net profit for the fourth quarter of 2014/15 fell 56 per cent - worse than expected -and India's largest automobile company by revenue also held back dividends for the first time since 2002.

For perspective, the Indian market sold slightly more than 2.6 million vehicles in 2014/15. This includes cars, SUVs, MUVs and vans.

Honda Cars India posted a growth of 23 per cent in March after registering its highest ever monthly domestic sales of 22,696 units.

Of all the MNCs that entered the Indian car market in the last 20 years, only Hyundai has cracked it. But it is still a long way away from catching up with Maruti.

The industry is hoping for continued support from the policymakers for a conducing environment to grow further and address any fresh challenges.

Maruti's Mayank Pareek talks about the rural drive, the used car business, and the potential of cars with automatic transmission.

Vikas Sehgal, Managing Director & Global, Sector Head - Automotive, Rothschild says Maruti can do well in the short term but the longer term may prove more challenging.