Two decades ago, India opened its doors for multinational automobile companies, allowing them to penetrate the market, modernize the Indian transportation picture and make it beneficial to the end-users. Since then, several firms have established their production units in the country, offering a wide range of vehicles for vast population. According to our latest report, the Indian commercial vehicle market has grown by leaps and bounds due to economic liberalization, and it has bright prospects as production and sales are reaching new heights.
Our report, “India LCV Market Outlook”, observed that the light commercial vehicle segment of the Indian automobile industry will grow at a good pace in future. With economic revival, increasing public & private spending on infrastructure and higher penetration of financing facilities, we expect the growth trend in each segment of light commercial vehicles (LCVs), be it passenger carriers or goods carriers, to continue in the coming years. As per our analysis, both LCV passenger and goods carrier are estimated to register a sales growth of around 20% during FY 2012-FY 2015.
We observed that hub and spoke model and small commercial vehicles are among the major trends which would drive the Indian LCV market in near future. With a view to understanding the competitive landscape, we have included profiles of key market players like Tata Motors and Mahindra & Mahindra in our extensive research study. The report aims at presenting an objective outlook of the LCV market in India to clients.