India: the automotive boom does not stop

Great news from India: the automotive boom continues. According to a research conducted by PricewaterhouseCoopers, India by 2018 will become the third largest car producer in the world after the United States and China; the Asian country, which at the end of last year was in fifth position after South Korea, Germany, Japan and China, will achieve this result thanks to the strong growth of the domestic market, the shift in production by emerging economies and the contraction of European car market.

As evidence of the potential of the Indian market, it is enough to think that despite the crisis in the European markets having a negative impact on the exports of the world's major car manufacturers which produce in India (Renault-Nissan and Hyundai export around half of Indian production to Europe), the growth of the internal market is in any case able to compensate for the problems linked to exports.

Again according to PwC, the increase in car sales will be recorded not only in India but in all the BRIC countries, and it will be the latter that will revive the fortunes of the sector on a global level: car production capacity by 2018, driven by the emerging powers, will be around 100 million units.

The data for the first quarter of 2012 confirm the automotive boom in India, in fact within these countries there was a greater increase in production for a figure equal to +2,69%; followed by Japan (+1.45%) and North America (+0.86%) while Europe recorded a worrying -0.59%.

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