Crisit Stated Crores Of Homes Can Afford Cars

{image- www.drivespark.com}Crisil Research Director (Operations) Nagarajan Narasimhan has said that considering the higher income levels and the stiff competition in the car market on pricing, 60-70 million households in India will be upgraded to a car-affordable financial level by 2014-15, taking the number of households at this level to 117 million.

According to Crisil Research report, the higher income levels will enable 117 million households in our country to have a car of their own by 2014-15 and this will drive sales growth in automobiles at the rate of 17-19 percent to Rs. 4, 20,000 crore during the period.

Crisil Research means that among every 1000 Indians, 17 people would possess cars which is very less as against 660/1000 in European countries and 440/1000 in USA. Hence, in spite of the growth of 17-19 percent, still our country will be a potential market attracting many more car makers to expand their business in our country.