The automotive market in India does not stop its growth path. According to data released by SIAM (Society of Indian Automobile Manufacturers), auto sales experienced growth of 8.3% in June, compared to the same period in 2011. Total auto sales reached 155,763 units.
SIAM itself has predicted that by the end of the 2012/2013 fiscal year (which will end in March next year) the growth of the sector could reach double digits, reaching around 11%, thanks to discounts from car companies and public aid for the purchase of diesel cars, which will be able to further stimulate demand; moreover, if we consider that only 12 Indians out of 1,000 own a car (compared to 500 out of 1,000 in the USA) the future prospects can only be positive.
Overall, in the 2011/2012 fiscal year, the increase in the number of sales over the previous year was 2%.
Among the main brands sold in India, the performances of Maruti Suzuki should be recorded, which increased its sales by 19.3% and which is configured as a leading company in the country, being able to cover alone the 42% of the local automotive market; the Korean Hyundai and the Indian Tata respectively occupy second and third place in the ranking of local consumer preferences.
These numbers demonstrate once again that there are great opportunities on the Indian market that Italian companies must seize if they want to believe in increasing their turnover and profits.
Octagona, with three offices in Pune, Bangalore and New Delhi, can help you pave the right path for your business and thus start your international growth. Contact us by clicking on the link below and tell us about your internationalization project: together with you, we will choose the best solution for your company.
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