A new Automotive World report, ‘India’s new vehicle market: Prospects to 2021‘ is available to download from the research section of AutomotiveWorld.com.
During 2016, Indian light vehicle (LV) demand rose by over 7% to 3.38 million units, a fresh peak for the second successive year. In the medium and heavy CV (MHCV) sector, demand was stable in 2016 at 317,000 units, having grown by 30% the previous year.
This exclusive Automotive World report outlines the expected performance of both sectors as near-term new vehicle market growth fuelled by a strong economy is balanced by the impact of new emissions standards later in the forecast period.
The report’s author, Jonathan Storey, commented: “Over the years there must have been thousands of PowerPoint slides illustrating the growth potential of India’s vehicle market, but no single slide can offer a dependable guide as to how new entrants can capture a worthwhile share of that growth. It’s a task which has proved far more difficult than many OEMs imagined, leading some to scale back their investment plans and sales targets, with GM even abandoning the market entirely.”
The market remains attractive for other manufacturers, however, including Kia and Peugeot. “We expect these brands to be among at least four mass market brands to enter the light vehicle market over the next five years,” noted Storey. “What they, and other recent entrants face is a dominant market leader in Maruti, as well as an unpredictable regulatory environment and some very discriminating and well-informed consumers.”
The Indian market is expected to grow to over 4.7 million units over the next five years, said the report’s author. “This report covers all the key characteristics of this market, and provides our forecasts on which OEMs will derive real benefits from that growth.”
Table of contents
- Executive summary
- Chapter 1: Light vehicle (LV) demand
- Chapter 2: Market characteristics
- Chapter 3: Market shares
- Chapter 4: India’s government and the auto industry
- Chapter 5: Economic outlook
- Chapter 6: Outlook for LV demand
- Chapter 7: India’s MHCV market
- Chapter 8: MHCV market shares
- Chapter 9: Outlook for MHCV demand
INFO
Automotive World subscribers can access the report by following this link: https://www.automotiveworld.com/research/indias-new-vehicle-market-prospects-2021
For more information about Automotive World subscriptions, please head to: https://www.automotiveworld.com/subscribe/
