NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/06/21 - Increasing domestic demand and exports coupled with capacity expansion plans will lead passenger car production to grow at a CAGR of 10.6% between 2010-11 and 2013-14, says RNCOS.
According to our latest research report “India Passenger Car Market Analysis”, automotive sector is one of the core industries of the Indian economy. Continuous economic liberalization over the years has made India a prime business destination for many global players. Thus, the automobile production in India has been on a rise since past few years. The passenger car segment, in particular, showed tremendous growth potentials due to increasing income levels, aggressive model launches and improving transportation infrastructure in the country. The report further reveals that the increasing demand will continue to fuel passenger car production at a CAGR of 10.6% through 2013-14.
The study says that the passenger vehicle industry is expected to add capacity of around one million units over the next two years. All prominent domestic players are planning to invest huge sum of money to provide answers to the overflowed demand for futuristic passenger cars in the country. In addition, some foreign auto majors are also foraying into the Indian market after seeing the disappointing performance of the automobile markets of US and EU amid economic slowdown. We anticipate large number of foreign manufacturers to enter the Indian market in the years to come, which will intensify the market competition and will prove beneficial for the industry development.
Moreover, India, like China, is emerging as a low-cost automobile production base in the world. Most of the international passenger vehicle manufacturers have set up their plants in India. The cost advantage and technically strong assembling plant capacity enable India to export its passenger vehicles to other countries, including the most developed markets in Europe.
“India Passenger Car Market Analysis” is an outcome of extensive research and thorough analysis of the fast-growing passenger car industry of India. The report discusses the market structure, current and past market performance and factors critical to the success of the concerned industry in India. Most importantly, the report also provides the industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Indian passenger car industry and will prove decisive for clients.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.