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India Beats Brazil In Passenger Car Rank!
The other five countries which make more volumes than these two countries are China, the US, Japan, Germany and Korea. SIAM mentioned that the Indian market saw the sale of 2.5 million units in 2010-11 fiscal to be the fastest in the recent decades. The President of SIAM said that the volume of sale would not be as much in this year due to the rise in commodity prices.
There has been a 30% rise in the growth of passenger cars and utility vehicles in the last fiscal courtesy arrival of 64 new models. He said the rise of the market will be around 12-15% this year due to the increase of prices of steel, rubber, and copper. This has forced many car makers to hike the prices of their ranges and pass the burden to the customers to compensate the pressure in the margins. SIAM predicted that the two wheeler segment will see the growth of 12-14% in this fiscal and that of commercial vehicles by 14-16%. While the three wheelers will face the growth of 9-11%.
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