Seems that India is becoming the next big thing in the auto sector. The Indian auto industry is likely to reach the 3 million mark in the passenger vehicle sales map.
Looking at the figures if the past 6 months the PV segment has seen a rise in sales by almost 12.34% and is able to sell almost 15 lakh units in 6 months.
SIAM Deputy Director General, Sugato Sen, said that the April - September sales has shown a very positive result and if it continues to be the same, the Indian Auto industry will soon reach the 3 million mark.
Compared to the last year when the companies were successful in selling about 28 lakh vehicles, all the passenger vehicle manufacturers expect that this year it will cross the 3 million bar in passenger vehicles segment.
A better cash flow and a strong disposable income in both the urban and the rural sectors are adding to this, says Abdul Majeed, Partner - Price Waterhouse. Also the new offerings by the major companies and the sudden cab aggressions help the Indian auto industry to multiply quickly
Overall, industry observers have pegged India to overtake Germany this year as the world's fourth largest automotive market after China, US and Japan.
The introduction of new models and the burst of the SUVs in the country has been attracting new customers to making a new car purchase.
