By 2015, India is expected to be the fourth largest automotive market by volume in the world according to survey by Altius Finserv Automobiles.
Over the next 20 years, India will be a part of the big global automotive triumvirate.
Tractor sales in the country are expected to grow at CAGR of 8-9% in the next five years, upping India’s market potential for international brands.
Two-wheeler production has grown from 8.5 Million units annually to 15.9 Million units in the last seven years. Significant opportunities exist in rural markets.
India’s car market has the potential to grow to 6+ Millions units annually by 2020.
The emergence of large automotive clusters in the country: Delhi-Gurgaon-Faridabad in the north, Mumbai-Pune-Nashik- Aurangabad in the west, Chennai-Bengaluru-Hosur in the south and Jamshedpur-Kolkata in the east.
Global car majors have been ramping up investments in India to cater to growing domestic demand. These manufacturers plan to leverage India’s competitive advantage to set up export-oriented production hubs.
An R&D hub: strong support from the government in the setting up of NATRiP centres. Private players such as Hyundai, Suzuki, GM are keen to set up an R&D base in India.
Tata Nano is a sterling example of Indian frugal engineering and is being positioned as a mobilizer of the young generation.
Electric cars are likely to be a size-able market segment in the coming decade.
Over the next 20 years, India will be a part of the big global automotive triumvirate.
Tractor sales in the country are expected to grow at CAGR of 8-9% in the next five years, upping India’s market potential for international brands.
Two-wheeler production has grown from 8.5 Million units annually to 15.9 Million units in the last seven years. Significant opportunities exist in rural markets.
India’s car market has the potential to grow to 6+ Millions units annually by 2020.
The emergence of large automotive clusters in the country: Delhi-Gurgaon-Faridabad in the north, Mumbai-Pune-Nashik- Aurangabad in the west, Chennai-Bengaluru-Hosur in the south and Jamshedpur-Kolkata in the east.
Global car majors have been ramping up investments in India to cater to growing domestic demand. These manufacturers plan to leverage India’s competitive advantage to set up export-oriented production hubs.
An R&D hub: strong support from the government in the setting up of NATRiP centres. Private players such as Hyundai, Suzuki, GM are keen to set up an R&D base in India.
Tata Nano is a sterling example of Indian frugal engineering and is being positioned as a mobilizer of the young generation.
Electric cars are likely to be a size-able market segment in the coming decade.
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