The Indian market is up 9.1% in the first nine months of 2017
- The Indian market (PC + LCV) increased by 9.1%, with a volume of 3.0 million units in the first nine months of 2017. The increase was even 13.9% in September 2017, which confirms the trend of acceleration observed for several months.
- At this rate, the Indian market could reach 4 million PC + LCV registrations in 2017, up from 3.67 million in 2016, 3 million in 2010 and 1 million in 2004. The Maruti-Suzuki manufacturer alone represents 40% of the Indian market.
- The takeoff of the Indian market dates from the same period as the takeoff of the Chinese market, although it remains smaller in volume (the Chinese market will be closer to 30 million units in 2017), despite a population equivalent in number.
- The middle classes who can acquire new vehicles are much less numerous in India than in China. The car ownership rate is three times lower in India than in China (50 versus 125 cars per 1,000 inhabitants). In addition, most cars sold in India are A and B segment models, while in China they are more C and D segment models. The difference between India and China is therefore major.
- The growth of the Indian market should be sustained in the coming years, even greater than that of the Chinese market, but the difference between the volume of registrations in these two markets will still be significant.
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