India is second fastest growing Auto market

13/01/2011 - 07:29 | ,  ,   | Kaustubh Shinde

There couldn’t have been a better start to Year 2011. Last year’s figures indicate that India has become the second fastest growing market in the world only next to China. Here is a gist of all the action:

• Car sales surged by 31% during the year to 1.9 million units
• Sales of two wheelers crossed 10 million units
• Passenger vehicle sales grew 31.3% last year to 2.4 million up from 1.8 million in 2009.

Almost each and every segment has registered double digit growth.

Honda Brio front

Of course, much of the credit certainly goes to the booming economy. But part of the credit goes to governing bodies like SIAM who have made sure that the growth is sustained and not sporadic.

All we can say is it’s FANTASTIC to be in India! Going forward, there are approximately 53 car launches planned this year. A lot of new brands are also entering the market. And IAB will be there at ground zero getting you all the updates.

So fasten your seat belts; this is going to be one heck of a ride!

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