The fact is not unknown that the passenger vehicle segment is one of the most growing & productive segment of the Indian Automobile industry along with the Two Wheeler Segment. 2015 has been the year the industry was looking forward to, with the change in government, its policies, rate cut by RBI; the segment witnessed marginal growth. However it’s the year 2016 that will prove to be the start of a new blooming era for passenger vehicles.
While 2015 has been a good year, the year 2016 is certainly one to look forward to. As per a recent research conducted by CRISIL, says that the small car will drive the passenger vehicle sales this year by making a marginal growth of 12-14%, while sedans are expected to grow at 6-%, UVs & Vans will grow by 8-10% & overall the market will grow by 11-13%.
Growth momentum to accelerate in 2016-17 backed by an improvement in economic growth, rural demand and lower cost of ownership; Implementation of the seventh pay commission will provide an additional kicker to growth, while Sedan growth to remain moderate due to stiff competition from compact utility vehicles (UVs).
See Also: facts of commercial vehicles market in India
As projected in the report the passenger vehicle segment will have a good growth in the coming years which will range from 11-13% till 2019-20. As the penetration is rising in the rural market, it will contribute to large extent driving the growth.
Below is the most sold vehicle study from 2009-2010 to 2015-2016:
Manufacturers are eying to launch at least 10-15 new models of cars by the year 2020 eying huge potential in Indian market. Most of these launches will arrive during the festive season which is regarded as the most influential purchase time in the Indian calendar. Mercedes Benz is eying to launch 15 new models in India which includes the CLA, the powerful A-class, B-class, S-class & more. Similarly Maruti Suzuki is also planning to launch 20 new models in India in the next five years & expects India to be the largest automobile market in the world by 2015.
If you are looking forward to buy second hand cars at the best price, you can always get in connect with Shriam Automall - a unique physical bidding platform to bid on used vehicles in India.
While 2015 has been a good year, the year 2016 is certainly one to look forward to. As per a recent research conducted by CRISIL, says that the small car will drive the passenger vehicle sales this year by making a marginal growth of 12-14%, while sedans are expected to grow at 6-%, UVs & Vans will grow by 8-10% & overall the market will grow by 11-13%.
(Image Source: auto.economictimes.indiatimes.com)
Growth momentum to accelerate in 2016-17 backed by an improvement in economic growth, rural demand and lower cost of ownership; Implementation of the seventh pay commission will provide an additional kicker to growth, while Sedan growth to remain moderate due to stiff competition from compact utility vehicles (UVs).
See Also: facts of commercial vehicles market in India
The report also
showcases the fact that 2016 is all set to belong to the compact & UV
vertical of the segment as these segments will cover 44% & 15% share in the
market respectively. 2015 saw decent growth in the sales of premium hatchbacks
& entry level hatchbacks that will contribute immensely towards the same of
the compact cars. Compact UVs have also attracted sedan customers with
aggressive pricing, premium features and petrol variants.
As projected in the report the passenger vehicle segment will have a good growth in the coming years which will range from 11-13% till 2019-20. As the penetration is rising in the rural market, it will contribute to large extent driving the growth.
Below is the most sold vehicle study from 2009-2010 to 2015-2016:
Manufacturers are eying to launch at least 10-15 new models of cars by the year 2020 eying huge potential in Indian market. Most of these launches will arrive during the festive season which is regarded as the most influential purchase time in the Indian calendar. Mercedes Benz is eying to launch 15 new models in India which includes the CLA, the powerful A-class, B-class, S-class & more. Similarly Maruti Suzuki is also planning to launch 20 new models in India in the next five years & expects India to be the largest automobile market in the world by 2015.
If you are looking forward to buy second hand cars at the best price, you can always get in connect with Shriam Automall - a unique physical bidding platform to bid on used vehicles in India.
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