Press Release Summary = The Indian automotive industry is on the verge of change, thanks to the changing preferences of the consumers. The passenger car industry is shining and going to outpace the other contenders of the automotive industry soon.
Press Release Body = Consumers are changing preferences from two to four-wheelers, thereby increasing the domestic passenger vehicle market. Small cars have a share of around 70% in the total annual car market of 1 million. This share is anticipated to double in the coming 4 years. In next 2 years, about a dozen new small and compact cars in gasoline, diesel and hybrid-engine models are expected to enter the market. These models will be equipped with engine capacities ranging from 1000 to 1500 cc. As per a study by Booz-Allen Hamilton and MC Kinsey consulting firm, India’s car market will cross around 3.5 million by 2015.
The emerging Indian market is not considered as risky place for business anymore because of the growing purchasing power of its huge population. India had a GDP growth of 6.9% in 2005 showing the extent of growth in its economy. India has traveled a long way, from only 9 in 1000 Indians able to afford a car, to the world’s fastest growing car market among the top 15 passenger car producing countries.
According to RNCOS’ report “Passenger Car Market: A Global Review (2006)”, automotive industry is India’s one of the largest and fastest-growing industry. Sales of passenger cars, utility vehicles and multi-purpose vehicles showed a stupendous growth of around 18% (10.6 million) over past year and rose by 54% from 2000 & 2001. This bring India the tag of 11th largest car market in the world and 3rd largest in Asia, after Japan (4.8 million) and China (2.4 million).
The highlights of the report are:
- Performance of developed & emerging countries in the passenger car industry - Opportunities for the automobile players in the industry - Challenges & driving forces for the industry - Competitors in Global Passenger car industry - Review of the Indian automotive industry
The report gives an objective analysis on global car industry that holds a major share of the global automotive industry.
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RNCOS, incorporated in 2002, provides Market Research Reports for your business needs and aims to put an end to your information pursuit. Our expertise in gathering global business information for industry research, corporate training, growth consulting, and business consulting, brings reputed companies and firms to us for business enhancement solutions. We can be your one-stop-shop for Industry research information and niche market analysis.
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Contact Details = About RNCOS:
RNCOS, incorporated in 2002, provides Market Research Reports for your business needs and aims to put an end to your information pursuit. Our expertise in gathering global business information for industry research, corporate training, growth consulting, and business consulting, brings reputed companies and firms to us for business enhancement solutions. We can be your one-stop-shop for Industry research information and niche market analysis.
2025
