We all know that recent years have been best years for the Indian Automotive market. New products, new technologies, new brands have quite literally flooded the market. Several research studies have concluded that India will be a dominant force in the world automotive industry by 2015.
However, another research study conducted by JD Power Asia Pacific states that India will become the third largest market in the world after China and the US for light vehicles, including passenger cars and light commercial vehicles (LCVs) by 2020.
JD Power Asia Pacific Executive Director Mohit Arora -
Our forecast is that by 2020, India will become the third biggest market for light vehicles, that includes passenger cars and LCVs, with total sales of nearly 12 million units
However, this forecast is only true if India manages to resolve its infrastructure, as well as supply chain issues.
According to the report, by 2020, China's light vehicles market is expected to reach 35 million units, while that of the US will rise to 17.4 million units. India will come third with an output of 11.9 million units which is consists 9.28 million units of passenger cars and 2.69 million units of light trucks.
Source - IndianExpress.com