Indian car market-offering a spectrum of options

Indian car market-offering a spectrum of options

The Indian car market has witnessed a remarkable growth over the recent past.India with its developing technology has become the sourcing base for some of the major automobile brands. The estimated component Indian Market size is US$6.7 bn. The Passenger car segment is estimated to grow by 8-9%.The Indian car market was the world's ninth largest in 2008 with an annual production of over 2.3 million units. The amount of passenger cars sales per month exceeded 100,000 units in February 2009 and is still growing at a fast pace.

Due to lesser restrictions and high competition, the Indian Car Market has witnessed a tremendous growth since 1991. This was the period after the liberalization of the Indian Economy. As a result of India's consistently growing economy, several recognized automobile companies of the world are making huge investments in the Indian car market today.

With the strong economy and honed engineering skills, Indian Car Market is presently, one of the largest car markets of the world. This market is offering a spectrum of options that are suitable to all consumer needs. Be it Indian brands like Maruti and Tata or International Companies like Hyundai and Ford, the Indian Car Market has it all!

Small family cars are ideal for Indian Audiences who prefer buying cars that give value for money'. The Indian Car market offers a fleet of small family cars that provide high fuel efficiency at low cost rates. To name a few, Maruti Alto, Maruti Wagon-R, TATA Nano, Hyundai Santro and Maruti Swift are some of the frequently bought cars in the Indian Market.

On the other hand, despite economic slowdown around the world, India is witnessing a tremendous growth in the sales of luxury cars. Growing from the past, Indian car market is now becoming a leading luxury car market of the world. All major luxury car brands like BMW, Mercedes and Audi are investing in the Indian market for their future expansion.However, luxury cars like Mercedes S-class, BMW and Honda Accord are common among Indian Buyers.

The Indian Car Market is offering plenty of choices to its customers. Ranging from Fuel efficient to cost effective and luxurious cars, every option is available in the Indian Market. So. Which car do you plan to invest in?

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