Press Release Summary: Indian passenger car export is likely to attain a CAGR of around 18% during 2008-09 to 2015-16.
Press Release Body: According to our new research report "Indian Automobile Sector - A Booming Market", the passenger car exports from India are expected to hit new highs in future. Being a specialized in the small passenger car market, it will help the country to export more with an exhilarated pace than any other country.
Indian consumers prefer small passenger cars due to high fuel efficiency and low purchasing cost, thus the production line being mostly driven by the domestic sales, have mastered in the small passenger car segment. However, rising fuel cost boosted up by the crude oil price inflation has motivated the international consumer also to go for small passenger cars to minimize the price effect.
This has opened up opportunities for Indian passenger car makers to cash on. As a result, they are now exporting their products to developed and other countries, where other players need to bring changes in their production assembly plants to satisfy the demand for small cars as they are mostly involved in the production of large cars.
According to the report "Indian Automobile Sector - A Booming Market", the rising cost competition in the developed markets under high input cost pressure is also likely to help India to boost up its passenger cars sales abroad. Low cost of production in India is another factor that is impacting the passenger car export to other countries. Apart from that, the low designing and research cost have motivated many manufacturers to set up their R&D base as well as passenger car manufacturing plants in India and than exports their production to the developed country.
We believe that the oil prices are likely to oscillate at around US$ 100 per barrel in future and pollution emission standards will be stiffer with the rising concern for GHG emissions. All these factors will create a supportive platform for the future demand for the India's compact cars.
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RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
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2022
