Small Car Segment: An Overcrowded But Growing Market In India
India is the shore for the small market segment and it has been observed that there is exceptional growth for this segment. The Indian auto market is the second fastest growing Cars market that includes 70 percent of the total share. The crowded but growing segment is luring a lot of car makers into investing. The various companies are playing their cards to utilize the growing market segment. Recently, a lot of big car manufacturers have invested in the small car segment and are now also ruling the segment with their respective models of cars. By next year, Toyota Motors would also launch a small car- the much awaited hatchback under its belt, the Toyota Etios Liva which will be released in India in April 2011. Recently, the company inaugurated the sedan model of Toyota Etios. With this expansion in their portfolio, the company also sees an increase of its market share and expects to sell as many as 70, 000 cars by 2011. Ford Figo that was launched early this year is a hatchback that won the hearts of many of Indian car enthusiasts. The company recently launched rolled out the 50,000th Ford Figo from the plant which is considered a milestone that was achieved in a short time span. Until now, 58, 000 Ford Figo has been seen running in the roads of India. The German car maker Volkswagen introduced a hatchback as well through its Volskwagen Polo. This model was accepted early well and paved way for an even tighter competition that paved way for ousting the German marvel. Honda motors also launched a hatchback which will be available in 2011 for the Indian buyers and this will be with a price range that is below 5 lacs. Jnaneswar Sen, the the vice president (marketing) for Honda Motors, noted that about 80 percent of the market sells the hatchback. Nissan Motors also jumped into the bandwagon and launched a model in the hatchback segment with their Nissan Micra petrol version which will be coming with the diesel version of the same model on December 10th. The company thought about exploring the diesel market in India for a long time.
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