India Will Be 4th Largest Passenger Vehicle Market

By admin • January 5th, 2011

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India is to become the forth largest passenger vehicle market in the world within the next three years to touch 3.5 million unites. Investments worth $20 billion are expected through the next three years which will help to build around nine new plants which are needed to meet future demand.

The Indian passenger vehicle market is currently the world’s seventh largest, producing around 2 million units in 2009-10. The market has been estimated to grow between 15-20% yearly up to 2013, and produce 2.4 million units this year.

With demand increasing every year, car makers in India are only hampered by the amount of car plants in India. If the investments of $20 billion are acquired, it will undoubtedly help in achieving the target of the 4th largest passenger vehicle market, by also allowing the expansion of distribution networks, strengthening sourcing chains and advance R&D.

International Government Affairs & Corporate Relations Consultants in Emerging Markets

 

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