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India Emerges Fourth Largest Car Manufacturer Globally

India Emerges Fourth Largest Car Manufacturer Globally

Snapshot: With 39.53 lakh cars produced in 2017, India is now right behind countries like China, Japan and Germany.

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The Indian automotive market has grown multiple folds in the last decade, attracting globally renowned auto manufacturers, who have set up manufacturing facilities and dealerships in the country. Known primarily as hatchback hub, the Indian market has come a long way with carmakers experimenting with new models and body-styles.

The Indian market continues to grow at a fast pace and has now emerged as the fourth largest passenger car manufacturing country in the world. According to a data, around 39.53 lakh cars were produced in 2017 which brings it up in the list right behind overseas markets such as China, Japan and Germany.

India alone contributes around 5% of the total passenger vehicle sales at a global level, witnessing an increase of 4% from a meagre 1% in 2001 till now. Despite the challenges and complexities integral to the Indian market, it has shown a steady growth, while countries such as USA, Japan, Spain and France saw a drop. At the start of the new millennium, China stood at the same number as India in terms of car production. The country witnessed sharp growth in terms of manufacturing and not just became one of the leading markets for manufacturing globally, but also the largest automobile market.

As for the commercial segment, USA tops the list while China follows suit, trailed by Mexico and Canada. One must note that many of the American-spec pick-up trucks are built in Mexico and Canada. Due to many trade agreements, Thailand features at number 6 above India. Since pick-up trucks are not classified as passenger cars, USA numbers are not counted in passenger vehicle sales.Countries like Japan and Hyundai are at fore when it comes to exports, whereas the ASEAN countries are leading in terms of manufacturing owing to low cost of production.

 

 

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