The Indian market (PC+LCV) grew by 9.5% in 2018
- The Indian automotive market (PC+LCV) continued to grow in 2018, to 4.4 million units, an increase of 9.5% compared to 2017, while it had already increased by 9.6% in 2017. The Indian market has been growing steadily since 2014. Its growth in 2018 was one of the highest in the world, behind Brazil (+14.6%) and Russia (+12.8%). It has thus gradually become the fifth largest market in the world, behind China, the United States, Europe and Japan. Inovev believes that the Indian market will surpass the Japanese market by 2020 and thus become the fourth largest in the world.
- Potentially, the Indian market could even become the second largest in the world, after China, because its population is almost as large as China, but its motorization rate is currently much lower as is its economic dynamism. The Indian middle class is also less numerous and less affluent than the Chinese middle class.
- By manufacturer, the Suzuki-Maruti group remains by far the leader in the Indian market, with 39.8% of registrations in 2018, ahead of the Tata (15.6%), Hyundai-Kia (12.5%) and Mahindra (11.3%) groups. The other automakers are far behind, even Renault-Nissan, which did not exceed 3% of the market, whereas its objectives were set at 5%.
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