Indian Passenger Car Sales to Show Double Digit Growth by FY 2014
According to our latest market research offering "India Passenger Car Market Analysis', India represents one of the largest and fastest growing passenger car industries in the world. Large middle class population, improving income levels and strong technological capabilities have been boosting the automobile demand in the country for past few years. The industry in fact sustained its positive growth momentum even amid economic slowdown on the back of strong domestic demand for compact cars. Our research suggests that the industry will post double-digit CAGR in coming years on the basis of concrete market fundamentals thoroughly discussed and evaluated in the report.
The research has identified that 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. On the basis of 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. We anticipate these investments to result in rapid development of passenger car industry in the country in the years to come.
Furthermore, passenger car industry developments are strongly influenced by the performance of the compact car segment. The rising disposable income, changing lifestyle and preference for luxurious but cost-effective transportation in the urban and sub-urban areas have shifted the growth pointer towards the small car market despite the high pressure from the increasing fuel prices and interest rates. Almost similar trend is expected to prevail during our forecast period, which will ultimately uplift the passenger car industry outlook in the country.
"India Passenger Car Market Analysis" is an outcome of extensive research and objective analysis of the passenger car industry in India. Comprehensive evaluation of production, sales, exports and capacity installations trends have been covered in the report. Each section concisely studies the current market trends and ongoing developments along with future forecasts of the Indian passenger car market. In addition, a brief overview of prominent market players has also been included in the Competitive Landscape section of the report to facilitate a balanced research outlook.
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