India Automotive industry in 2016 had been the World’s 5th hitting for the first time the milestone of 3.5 million sales (cars + LCVs). Perspectives are almost positive and in 2019 market will be 4th outpacing the 4 million
India’s automobile industry is poised at the start of an exciting phase of growth, not all of which may derive from manufacturing conventional fuel-based vehicles. Various possibilities ranging from developing vehicles based on alternate fuels to collaborating with some-time rivals, have the potential to open fresh avenues for growth.
The fast speed scored by the GDP is progressively creating a middle class while the numbers of cars in use are still very low compared with all the top 25 global car markets.
The twin phenomena of low car penetration and rising incomes, when combined with increasing affordability of cars, are expected to contribute to an increase in India’s automobile demand. However, the rule of the government is fundamental, as the country (and the sector) looks blocked by rigidity, slow evolution and “grey” affairs.
We trust that the nature of the long-term state of the Indian automobile industry appears fluid, given that globally evolving phenomena such as the rise of greener, hybrid vehicles are yet to take off in India.
However, the Indian automotive industry has scripted a different story in the development of greener vehicles with the rise of CNG as a popular option among consumers.
Despite the milestone of 3.5 million vehicles sold in the 2016, Indian cars density is the lowest among the World’s top 50 markets and even doubling the current annual sales level, the numbers of cars per inhabitants will not really improve before 10 years.
The GDP is growing at a pace of 7% per year moving up the pro capita income and sustaining the growth of a middle class any day keener to own a car.
Today you can have easy access to professional analysis of this market purchasing a Short Research (110 page, 140 charts, 10 tables) reporting market trend, facts and insights for the period 2005-2016 with sales detail for All Brands and All Models in the period 2014-2016. It includes dedicated sections for car passengers, light commercial vehicles, premium brands, segmentation had been developed to help you to read the market from any perspective.
To know more you can purchase the Full Research (170 pages, 210 charts, 18 tables) which add to the short one, forecast up to the 2022. Here again there are details regarding cars, light commercials, premium brands and segments.
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