India market mix
I've blogged before about my excitement for the Indian auto market and wanted to give you a little closer look at the vehicle mix. India's light vehicle forecast for 2011 is just under 3 million vehicles. This 3 million includes passenger vehicles and light commercial vehicles. But passenger and commercial vehicles make up only 20% of the 2009-2010 vehicle market mix for 2009/2010 according to the Society of Indian Automotive Manufactures. Two wheelers are the top selling vehicle segment in India representing 76 percent of the Indian vehicle market in 2009/2010.
However, two wheelers have lost 3% share to passenger vehicles between 2003 and 2010. This is in part due to the global and local passenger vehicle manufacturers expanding their dealer networks further into rural Indian areas where two wheeler manufacturers have been the only players for years.
Don't worry two wheeler manufacturers. There appears to be enough growth for everyone in the Indian market. Between 2009 and 2010 there was 26% growth from both passenger vehicles and two wheelers. And 2011 looks promising as well with Polk's automotive forecast predicting a 14 percent increase in light vehicles for India.
These are exciting times for the Indian automotive market and I look forward to seeing what happens next.
Posted by Margaret Zewatsky, Product Strategist, Polk (02.28.2011)
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