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India Is Now The 4th Largest Automobile Market Globally
India has overtaken Germany and has become the fourth largest automobile market in the world according to the latest 2018 global data show.
A country like India which has a population of over 135 crores, is much likely to have a vast auto market. Well, the previous statement has totally been proven right.
According to the latest 2018 global data show, our nation has overtaken Germany and has become the fourth largest automobile market in the world.
As the statistics show, the automobile sales which include passenger, as well as commercial vehicles, grew by 9.5 percent, which, is the fastest growth rate among major global markets.
More than 4 million units were sold last year, which, outraged Germany's 3.8-million vehicle sales. Moreover, the sales rose by a modest 2.8 percent during the same time period.
Sales volumes for some of the brand models such as Maruti Suzuki's Vitara Brezza and Hyundai's Creta retain their sales volume.
As far as the newly launched models are concerned, the Tata Nexon, Jeep Compass, VW's Tiguan and Skoda's Kodiaq is also pulling up a lot of sales traction in the Indian market.
Our Government is focusing more on the infrastructure, stricter tabs overloading ban and macroeconomic environment management so that our sales volumes remain strong and stable during this year.
