DUBLIN--(BUSINESS WIRE)--The "Indian Passenger Vehicles Market, Forecast to 2020" report has been added to ResearchAndMarkets.com's offering.
Driven by aggressive pricing and an increasing number of exports, passenger vehicle (PV) production in India is expected to grow at a CAGR of 9.0% from FY2015 to FY2020.
New models like Hyundai Xcent, Hyundai Creta, and Maruti Baleno launched at aggressive pricing in different segments are responsible for driving the Indian PV market. Also, the launch of entry-level sedans and entry-level SUVs by major global OEMs like Honda, Hyundai, Ford, and Renault has made it more convenient for buyers to select the most advanced vehicles at lower costs, thereby increasing business margins.
Rapid fluctuations in fuel prices and growth of public transport are expected to restrain the Indian PV market growth in the future. With the narrowing price difference between gasoline and diesel variant vehicles and newer technologies being introduced in gasoline engines, the share of diesel vehicles is likely to decline in the near future. The overall inflation remains high due to a persistent rise in fuel prices and this is expected to continue for the next few months or a year.
The used car market in India is set to grow at a CAGR of 11% from 3.45 million units in 2016 to 5.8 million units in 2021. The organized sector is expected to reach a market share of 25% in 2021 from 20% in 2016 due to the shift in focus where customers will be more likely to pay more to get reliable cars at a reasonable price than go for the cheapest, yet unreliable deals.
Customers are increasingly using the online channel because they want to be better informed before making a decision. This also connects them to a seller at a quicker pace. The effect of this increasing use of the online players is such that around 10% to 20% of sales for unorganized dealers are currently completed with the help of online platforms.
Key Topics Covered:
1. Executive Summary
2. Research Scope, Objectives, Background, And Methodology
3. Definitions And Segmentation
4. Mega Trends Impacting Indian Automotive Market
5. Indian Passenger Vehicles Market
6. Market Drivers And Restraints
7. Indian Passenger Vehicles Market Forecast
8. Legislative And Technological Trends In The Indian Passenger Vehicles Market
9. Pre-Owned Car Market
10. Passenger Vehicles Distribution/Channel Analysis
11. Auto Components Sourcing And Exports-India
12. Conclusions And Future Outlook
- Maruti Suzuki
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