India emerged as a winner from the recent financial downturn. The Indian car market remained unscathed. Now, after it’s all over, analysts are forecasting tremendous car sales in the country. The latest financial year ending March 2010 witnessed record sales for most of the automakers in India. However, there was none that could beat the unbeatable Maruti Suzuki, which has been taking the top spot in the car market. More than 50 percent of cars sold in India come from Maruti Suzuki dealers.
Two-wheeler users have already started moving towards four-wheelers. These car buyers looking for entry-level models generally come from middle-class Indian families. They would want the luxury of a car, but at an affordable price. Cars like the Tata Indica, Maruti Suzuki Alto, Nissan Micra, Hyundai Santro and a few others are therefore a boon to the average car buyer in India. El Alto, not surprisingly, accumulates the largest number of car sales in the country. About 25,000 Alto units are sold each month.
The hatchback segment is not far behind. With the launch of many cars in the segment in recent months, the segment has been of great help to automakers. We had the launch of simple yet sophisticated vehicles equipped with all the advanced features. The Ford Figo, Volkswagen Polo and Maruti Suzuki WagonR are the latest entries and have attracted a large number of buyers in India. The specialty of all these cars lies in the cost. Despite the innovative technologies they carry, they are very light for the pocket of the average Indian.
The next segment that has started to gain prominence in recent times is the mini MPV segment. We have the Maruti Suzuki Eeco and Omni. These cars are again priced right for the Indian car buyer. Very soon, the SAIC-GM-Wuling three-way joint venture will incorporate Sunshine, Sail and Hong Guang. It is believed that many more cars from other manufacturers will also make their entrance.
Coming to the luxury car segment, it certainly seems that India is getting richer by the day. Luxury cars have also witnessed rising sales figures. We recently had the Lamborghini Murcielago LP670-4 SV, Mercedes Benz E-Class Coupe, Volkswagen Phaeton and many more making their debut on the roads of India. BMW also had its share of luxury car launches.
So now we have a clear indication that India is not far behind when it comes to the auto industry. During the first quarter of 2010, Hyundai Motor India Ltd, the country’s second largest automaker and largest exporter of passenger cars posted record sales of 162,273 compared to 121,565 units in the same period of 2009. Nissan Motors India has plans to export 250,000 cars produced at its plant in India by 2011. Meanwhile, GM has also announced plans to export nearly 50,000 Indian-made cars by next year.