Ideas That Generate Results
India Passenger Car Market Analysis
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Publish Date : May, 2010| No. of Pages : 60
India represents one of the world’s largest and fastest growing automobile markets. De-licensing in 1991 brought revolutionary changes in the industry and provided well-deserved and timely growth impetus to the industry. This attracted foreign auto giants to set up their production facilities in the country in a bid to take advantage of various benefits offered by the industry. Large middle class population, improving income levels and strong technological capability have been boosting automobile demand in the country for past few years. Even in the wake of economic slowdown, the industry sustained its positive growth momentum mainly because of strong domestic demand for passenger cars.
According to our new research report “India Passenger Car Market Analysis”, the passenger car market, which constitutes around 78.5% of passenger vehicle sales (in FY 2010), has immense growth potential as passenger car stock stood at around 11.6 per 1,000 people in 2009. Realizing booming passenger car demand in the country, many domestic and foreign automobile giants are formulating capacity expansion strategies, and billions of dollar worth of investments are already in pipeline. Considering huge market potential, production of passenger cars is projected to grow at a CAGR of around 11% between 2010-11 and 2013-14.
The recent launch of Tata Nano has brought about a new revolution in the country’s small car segment. Seeing the good initial response from consumers, many other players in the industry are chalking out their plans to launch cars in this segment in the next few years. In fact, the compact and mini passenger car segments are fast becoming the primary source of revenue generation for both domestic and international manufacturers due to the strong fundamentals of large number of middle class consumers and rising fuel prices.
“India Passenger Car Market Analysis” is an outcome of extensive research and thorough analysis of the Indian passenger car industry done by our experienced team of industry experts. A comprehensive evaluation of production, sales, exports and capacity installation trends has been covered in the report. Each section succinctly explains the current and future market trends and ongoing developments in the Indian passenger car market. In addition, a brief overview of prominent market players has also been included in the competitive landscape section. The section includes business description, strategies and recent developments of the key market players, which will provide our clients a competitive advantage.