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Indian Car Market Boom 2010-11
This made the net growth of the Indian car market by 30% among which 77% of the domestic products was constituted by hatchbacks with 1.6 millon units. There has been 27 new models of small, medium and large ranges of cars under petrol, diesel and other fuel modes. The saloons under 4.0 - 4.5 metres long as that of Honda City, constituted 3.6 million units (18%) while executive saloons (4.5 - 4.7 metre long as Corolla Altis) constituted 2.6% with 52000 units. The segment under premium and luxury with more than 4.7 metre long had the volume of mere 1% despite its sale to claim for 60%.
India has been emerging as the second fastest car market, next to China, with nearly 60 domestically assembled and 60 imported range of vehicles. These models vie with each other in the given space of the market. The Indian roads are filled with a rough 80 million two wheelers, 15 million cars and 8 million trucks and buses. With growth in the Indian car market, the export segment saw the penetration of the hub prospects for Hyundai i10 and i20, Ford Figo and Maruti A-Star. Tata"s Nano may sooner or later enter into the overseas market and will face competition from the local Bajaj-Nissan-Renault JV"s compact car.
These are the reasons with attributed to the Indian car market and made it the largest one in offering employment and in manufacturing. The major employment form is in the component industries with 70% and the Indian car markets are full with motorised means of transport giving direct and indirect employment to millions of personnel. This has made the governments to effect more road facilities and parking lots to accommodate all the vehicles.
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