Exclusivity Is Now the Key to Indian Auto Market
Domestic as well as global automobile companies have identified the potential of the Indian auto market. As per the statistics, India is the second-biggest market for small cars after Japan and it is one of the largest two-wheeler markets in the world. India was the fastest growing car market in the world in 2004 with a growth rate of 20 percent. It is predicted that by 2050 every sixth car in the world will be for Indians. Keeping all these facts and figure in view and to exploit the growing market, automobile companies are coming up with exclusive models for the Indians.
Some of the exclusive recent launches include Maruti Suzuki’s premium SX4 Model, Germany Volkswagen’s Luxury Sedan Car – Passat, Swedish Car company Volvo’s S80 luxury sedan. In two-wheeler segment, new launches include Bajaj Pulsar DTSi, Bajaj Kristal DTSi, Hero Honda Pleasure and Sports Bike -- Comet 250 of Kinetic. By the end of 2007, General Motor's leading global brand Chevrolet will launch Captiva. Japanese auto major Yamaha has decided to launch a big muscle model of Yamaha YZF R1 in India by the end of 2007 under 800cc + segment. Bajaj will be enthralling the 100-125 cc bikes segment in India with the launch of Sonic DTSi.
According to a study by consulting firm McKinsey Co., India’s automobile industry will grow to $40 billion in 2015 from $10 billion now. A major part of the expansion would come from exports vehicles and auto components, which are projected to rise to $20 billion in 2015 from the current $2 billion. Keeping all these in views, Global automobile companies and Indian firms will come up with new and exclusive models of four-wheelers and two-wheeler in the country. Besides, the auto companies are also coming up with exclusive commercial vehicles to capture a share of the lucrative Indian market.
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