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India – LCVs to Capture 47% Commercial Goods Carrier Market
Dec 05, 2008
According to our new research report, “Indian Automobile Sector - A Booming Market”, LCV production in India is expected to take off in a big way in coming years. In fiscal 2007, high demand for LCVs in both domestic and international markets raised the total production of commercial vehicles despite a fall in medium and heavy segments during the same timeframe.
Indian LCV manufacturers are mainly targeting South Asia, the Middle East and Africa to sell their finished products as these regions are demographically similar to India. Thus, LCVs, which are made keeping Indian roads in mind, will face lesser difficulties in acceptance by people and perform in these regions. Moreover, LCVs could be utilized in the regions for other mode of goods transportation as well due to their body size. Besides, these regions are undergoing massive infrastructure development, creating large potential opportunities for commercial vehicles, especially the lighter ones as lower import rates are charged on LCVs, says the RNCOS research.
Sensing the growing demand of LCVs in export markets, Indian manufacturers have raised the share of LCVs to 47% in total production of commercial goods carrier (as of 2007-08).
“Indian Automobile Sector - A Booming Market” provides a detailed study on all important auto segments of the Indian auto sector such as LCVs, HCVs, passenger cars and two-wheelers along with auto component market. It also studies factors pushing growth in the market, like consumer groups and steel industry, and tracks market developments to identify opportunities in various verticals.
The past and current data given in the report is supplemented by forecast on key segments of the Indian auto industry, like premium for passenger cars, auto steel demand, automobile production, structure of automobile production, passenger car stock and sales of passenger cars and commercial vehicles.
For more information visit: http://www.rncos.com/Report/IM526.htm
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