India: excellent data from automotive

The automotive market in India does not stop its growth path. According to data released by SIAM (Society of Indian Automobile Manufacturers), car sales experienced a growth of 8.3% in June, compared with the same period in 2011. Total car sales reached 155,763 units.

SIAM itself has predicted that by the end of the 2012/2013 fiscal year (which ends in March next year), growth in the sector could reach double digits, standing at around 11%, thanks to rebates from car companies and government subsidies for diesel car purchases, which will be able to further stimulate demand; moreover, when one considers that only 12 out of every 1,000 Indians own a car (compared to 500 out of 1,000 in the U.S.) the future outlook can only be positive.

Overall, in fiscal year 2011/2012, the increase in the number of sales over the previous year was 2%.

Among the major brands sold in India to be recorded is the performance of Maruti Suzuki, which increased its sales by 19.3% and emerges as the leading company in the country, being able to cover 42% of the local automotive market alone; Korea's Hyundai and India's Tata occupy the second and third places respectively in the local consumer preference ranking.

These numbers demonstrate once again how there are great opportunities in the Indian market that Italian companies must seize if they want to believe in increasing their turnovers and profits.

Octagona, with three offices in Pune, Bangalore and New Delhi, can help you pave the right path for your business and thus begin your international growth. Contact us by clicking on the link below and tell us about your internationalization project; we will choose with you the best solution for your business.

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