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India will become the third largest automotive market in the world by 2016 ahead of Japan, Germany and Brazil, riding on its domestic automotive sales, according to IHS Automotive, a global market information provider. Although the economic growth vulnerability and lower sentiment resulted in market slowdown in 2012 and 2013, India is expected to regain strong growth trend from 2014 onwards, said the Colorado-based firm. </div>
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“We expect that by 2016, vehicle sales would surpass Brazil, Germany and Japan making India the third largest market,” IHS Senior Principal Economist Charles Chesbrough said here. </div>
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In 2012, China, the US and Japan were the top three global automotive markets and India was ranked six after Brazil and Germany in the fourth and fifth positions respectively. Sounding bullish on the Indian market in the mid to long term, IHS said: “Investment reform policy will induce better environment for domestic and foreign enterprises. India light vehicle production (is) expected to reach 7 million by 2020.” </div>
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The implications for auto demand are huge in India and the country has been moving along the penetration path, it said. “With demand for vehicles declining in most mature markets in the face of the global recession, high fuel costs and urban driving restrictions, the industry is turning its attention more strongly towards the expanding middle classes in the new powerhouse of China, India, Brazil, Russia and other growing nations,” Chesbrough said. </div>
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The growth of automobile sales will not be restricted only to mass market vehicles, IHS said. “The favorable Indian market conditions are acting as a catalyst for luxury and premium carmakers, which are receiving impetus from new launches. The top-end carmakers have posted double-digit growth for the quarter ended June 30, 2013,” IHS Director James Chao said. </div>
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India will become the third largest automotive market in the world by 2016 ahead of Japan, Germany and Brazil, riding on its domestic automotive sales, according to IHS Automotive, a global market information provider. Although the economic growth vulnerability and lower sentiment resulted in market slowdown in 2012 and 2013, India is expected to regain strong growth trend from 2014 onwards, said the Colorado-based firm. </div>
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In 2012, China, the US and Japan were the top three global automotive markets and India was ranked six after Brazil and Germany in the fourth and fifth positions respectively. Sounding bullish on the Indian market in the mid to long term, IHS said: “Investment reform policy will induce better environment for domestic and foreign enterprises. India light vehicle production (is) expected to reach 7 million by 2020.” </div>
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The growth of automobile sales will not be restricted only to mass market vehicles, IHS said. “The favorable Indian market conditions are acting as a catalyst for luxury and premium carmakers, which are receiving impetus from new launches. The top-end carmakers have posted double-digit growth for the quarter ended June 30, 2013,” IHS Director James Chao said. </div>
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The growth of automobile sales will not be restricted only to mass market vehicles, IHS said. “The favorable Indian market conditions are acting as a catalyst for luxury and premium carmakers, which are receiving impetus from new launches. The top-end carmakers have posted double-digit growth for the quarter ended June 30, 2013,” IHS Director James Chao said. </div>
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In 2012, China, the US and Japan were the top three global automotive markets and India was ranked six after Brazil and Germany in the fourth and fifth positions respectively. Sounding bullish on the Indian market in the mid to long term, IHS said: “Investment reform policy will induce better environment for domestic and foreign enterprises. India light vehicle production (is) expected to reach 7 million by 2020.” </div>
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The growth of automobile sales will not be restricted only to mass market vehicles, IHS said. “The favorable Indian market conditions are acting as a catalyst for luxury and premium carmakers, which are receiving impetus from new launches. The top-end carmakers have posted double-digit growth for the quarter ended June 30, 2013,” IHS Director James Chao said. </div>
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In 2012, China, the US and Japan were the top three global automotive markets and India was ranked six after Brazil and Germany in the fourth and fifth positions respectively. Sounding bullish on the Indian market in the mid to long term, IHS said: “Investment reform policy will induce better environment for domestic and foreign enterprises. India light vehicle production (is) expected to reach 7 million by 2020.” </div>
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The growth of automobile sales will not be restricted only to mass market vehicles, IHS said. “The favorable Indian market conditions are acting as a catalyst for luxury and premium carmakers, which are receiving impetus from new launches. The top-end carmakers have posted double-digit growth for the quarter ended June 30, 2013,” IHS Director James Chao said. </div>
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According to IHS, in terms of production volume, India would move to fourth position in 2020 ahead of Germany and Brazil from its currently sixth spot. IHS said as India develops, its citizens acquire wealth, demand for automobiles will increase as the need of personal transportation rises. “It may take a little longer in India because they do not have the infrastructure...but we know about the personal behaviour as people gain wealth, they want freedom, ability to go where they want to go and when they want to go,” Chesbrough said. <em>(The Economic Times)</em></div>
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India To Be World’s 3rd Largest Auto Market By 2016
3 min 39 sec to read
India will become the third largest automotive market in the world by 2016 ahead of Japan, Germany and Brazil, riding on its domestic automotive sales, according to IHS Automotive, a global market information provider. Although the economic growth vulnerability and lower sentiment resulted in market slowdown in 2012 and 2013, India is expected to regain strong growth trend from 2014 onwards, said the Colorado-based firm.
“We expect that by 2016, vehicle sales would surpass Brazil, Germany and Japan making India the third largest market,” IHS Senior Principal Economist Charles Chesbrough said here.
In 2012, China, the US and Japan were the top three global automotive markets and India was ranked six after Brazil and Germany in the fourth and fifth positions respectively. Sounding bullish on the Indian market in the mid to long term, IHS said: “Investment reform policy will induce better environment for domestic and foreign enterprises. India light vehicle production (is) expected to reach 7 million by 2020.”
The implications for auto demand are huge in India and the country has been moving along the penetration path, it said. “With demand for vehicles declining in most mature markets in the face of the global recession, high fuel costs and urban driving restrictions, the industry is turning its attention more strongly towards the expanding middle classes in the new powerhouse of China, India, Brazil, Russia and other growing nations,” Chesbrough said.
The growth of automobile sales will not be restricted only to mass market vehicles, IHS said. “The favorable Indian market conditions are acting as a catalyst for luxury and premium carmakers, which are receiving impetus from new launches. The top-end carmakers have posted double-digit growth for the quarter ended June 30, 2013,” IHS Director James Chao said.
According to IHS, in terms of production volume, India would move to fourth position in 2020 ahead of Germany and Brazil from its currently sixth spot. IHS said as India develops, its citizens acquire wealth, demand for automobiles will increase as the need of personal transportation rises. “It may take a little longer in India because they do not have the infrastructure...but we know about the personal behaviour as people gain wealth, they want freedom, ability to go where they want to go and when they want to go,” Chesbrough said. (The Economic Times)
More Vehicles, Less Roads
Nepali auto market has expanded at rapid pace in the recent years. The construction of roads and other related infrastructures have contributed to the rise of vehicles sales. According to Economic Survey published by Nepal government last week, on an average, 61 vehicles are sharing one kilometer of road around the country. The total number of registered vehicles has reached 1.5 million by the end of fiscal year 2069/70. The survey reports that vehicle import has increased by 40 per cent annually. More than 142,000 vehicles were sold in FY 2069/70 compared as to 101,000 in previous FY. Increase in remittance, raised income of middle class families and road expansion activities are seen as the key driving factors for increased vehicle sales.
However, the low availability of roads is seen as major problematic factor. Particularly, with the increase of vehicle sales, Kathmandu valley and other major cities are facing huge traffic congestions on a daily basis. The total length of road around the country reached 24,583 kms by the end of last FY which is very less compared to the number of registered vehicles. The sluggishness in road construction and expansion is also seen as another factor hindering the vehicle sales. The official data has showed that 518 km road was constructed in eight months of last FY which is about 58 per cent less compared to FY 2068/69. According to Tulsi Prasad Sitaula, Secretary at Ministry of Physical Infrastructure and Transport, the roads are constructed only with government investments, which has not brought the expected speed of infrastructure development. ‘Private sector is pouring its investment only in importing vehicles but the roads constructions are not carried out to equalize the investment,’ he said.
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India will become the third largest automotive market in the world by 2016 ahead of Japan, Germany and Brazil, riding on its domestic automotive sales, according to IHS Automotive, a global market information provider. Although the economic growth vulnerability and lower sentiment resulted in market slowdown in 2012 and 2013, India is expected to regain strong growth trend from 2014 onwards, said the Colorado-based firm. </div>
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“We expect that by 2016, vehicle sales would surpass Brazil, Germany and Japan making India the third largest market,” IHS Senior Principal Economist Charles Chesbrough said here. </div>
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In 2012, China, the US and Japan were the top three global automotive markets and India was ranked six after Brazil and Germany in the fourth and fifth positions respectively. Sounding bullish on the Indian market in the mid to long term, IHS said: “Investment reform policy will induce better environment for domestic and foreign enterprises. India light vehicle production (is) expected to reach 7 million by 2020.” </div>
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The growth of automobile sales will not be restricted only to mass market vehicles, IHS said. “The favorable Indian market conditions are acting as a catalyst for luxury and premium carmakers, which are receiving impetus from new launches. The top-end carmakers have posted double-digit growth for the quarter ended June 30, 2013,” IHS Director James Chao said. </div>
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According to IHS, in terms of production volume, India would move to fourth position in 2020 ahead of Germany and Brazil from its currently sixth spot. IHS said as India develops, its citizens acquire wealth, demand for automobiles will increase as the need of personal transportation rises. “It may take a little longer in India because they do not have the infrastructure...but we know about the personal behaviour as people gain wealth, they want freedom, ability to go where they want to go and when they want to go,” Chesbrough said. <em>(The Economic Times)</em></div>
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More Vehicles, Less Roads </h1>
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In 2012, China, the US and Japan were the top three global automotive markets and India was ranked six after Brazil and Germany in the fourth and fifth positions respectively. Sounding bullish on the Indian market in the mid to long term, IHS said: “Investment reform policy will induce better environment for domestic and foreign enterprises. India light vehicle production (is) expected to reach 7 million by 2020.” </div>
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The implications for auto demand are huge in India and the country has been moving along the penetration path, it said. “With demand for vehicles declining in most mature markets in the face of the global recession, high fuel costs and urban driving restrictions, the industry is turning its attention more strongly towards the expanding middle classes in the new powerhouse of China, India, Brazil, Russia and other growing nations,” Chesbrough said. </div>
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The growth of automobile sales will not be restricted only to mass market vehicles, IHS said. “The favorable Indian market conditions are acting as a catalyst for luxury and premium carmakers, which are receiving impetus from new launches. The top-end carmakers have posted double-digit growth for the quarter ended June 30, 2013,” IHS Director James Chao said. </div>
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According to IHS, in terms of production volume, India would move to fourth position in 2020 ahead of Germany and Brazil from its currently sixth spot. IHS said as India develops, its citizens acquire wealth, demand for automobiles will increase as the need of personal transportation rises. “It may take a little longer in India because they do not have the infrastructure...but we know about the personal behaviour as people gain wealth, they want freedom, ability to go where they want to go and when they want to go,” Chesbrough said. <em>(The Economic Times)</em></div>
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India will become the third largest automotive market in the world by 2016 ahead of Japan, Germany and Brazil, riding on its domestic automotive sales, according to IHS Automotive, a global market information provider. Although the economic growth vulnerability and lower sentiment resulted in market slowdown in 2012 and 2013, India is expected to regain strong growth trend from 2014 onwards, said the Colorado-based firm. </div>
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“We expect that by 2016, vehicle sales would surpass Brazil, Germany and Japan making India the third largest market,” IHS Senior Principal Economist Charles Chesbrough said here. </div>
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In 2012, China, the US and Japan were the top three global automotive markets and India was ranked six after Brazil and Germany in the fourth and fifth positions respectively. Sounding bullish on the Indian market in the mid to long term, IHS said: “Investment reform policy will induce better environment for domestic and foreign enterprises. India light vehicle production (is) expected to reach 7 million by 2020.” </div>
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The implications for auto demand are huge in India and the country has been moving along the penetration path, it said. “With demand for vehicles declining in most mature markets in the face of the global recession, high fuel costs and urban driving restrictions, the industry is turning its attention more strongly towards the expanding middle classes in the new powerhouse of China, India, Brazil, Russia and other growing nations,” Chesbrough said. </div>
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The growth of automobile sales will not be restricted only to mass market vehicles, IHS said. “The favorable Indian market conditions are acting as a catalyst for luxury and premium carmakers, which are receiving impetus from new launches. The top-end carmakers have posted double-digit growth for the quarter ended June 30, 2013,” IHS Director James Chao said. </div>
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According to IHS, in terms of production volume, India would move to fourth position in 2020 ahead of Germany and Brazil from its currently sixth spot. IHS said as India develops, its citizens acquire wealth, demand for automobiles will increase as the need of personal transportation rises. “It may take a little longer in India because they do not have the infrastructure...but we know about the personal behaviour as people gain wealth, they want freedom, ability to go where they want to go and when they want to go,” Chesbrough said. <em>(The Economic Times)</em></div>
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More Vehicles, Less Roads </h1>
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Nepali auto market has expanded at rapid pace in the recent years. The construction of roads and other related infrastructures have contributed to the rise of vehicles sales. According to Economic Survey published by Nepal government last week, on an average, 61 vehicles are sharing one kilometer of road around the country. The total number of registered vehicles has reached 1.5 million by the end of fiscal year 2069/70. The survey reports that vehicle import has increased by 40 per cent annually. More than 142,000 vehicles were sold in FY 2069/70 compared as to 101,000 in previous FY. Increase in remittance, raised income of middle class families and road expansion activities are seen as the key driving factors for increased vehicle sales. </div>
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“We expect that by 2016, vehicle sales would surpass Brazil, Germany and Japan making India the third largest market,” IHS Senior Principal Economist Charles Chesbrough said here. </div>
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In 2012, China, the US and Japan were the top three global automotive markets and India was ranked six after Brazil and Germany in the fourth and fifth positions respectively. Sounding bullish on the Indian market in the mid to long term, IHS said: “Investment reform policy will induce better environment for domestic and foreign enterprises. India light vehicle production (is) expected to reach 7 million by 2020.” </div>
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</div>
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The implications for auto demand are huge in India and the country has been moving along the penetration path, it said. “With demand for vehicles declining in most mature markets in the face of the global recession, high fuel costs and urban driving restrictions, the industry is turning its attention more strongly towards the expanding middle classes in the new powerhouse of China, India, Brazil, Russia and other growing nations,” Chesbrough said. </div>
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The growth of automobile sales will not be restricted only to mass market vehicles, IHS said. “The favorable Indian market conditions are acting as a catalyst for luxury and premium carmakers, which are receiving impetus from new launches. The top-end carmakers have posted double-digit growth for the quarter ended June 30, 2013,” IHS Director James Chao said. </div>
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According to IHS, in terms of production volume, India would move to fourth position in 2020 ahead of Germany and Brazil from its currently sixth spot. IHS said as India develops, its citizens acquire wealth, demand for automobiles will increase as the need of personal transportation rises. “It may take a little longer in India because they do not have the infrastructure...but we know about the personal behaviour as people gain wealth, they want freedom, ability to go where they want to go and when they want to go,” Chesbrough said. <em>(The Economic Times)</em></div>
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<h1>
More Vehicles, Less Roads </h1>
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Nepali auto market has expanded at rapid pace in the recent years. The construction of roads and other related infrastructures have contributed to the rise of vehicles sales. According to Economic Survey published by Nepal government last week, on an average, 61 vehicles are sharing one kilometer of road around the country. The total number of registered vehicles has reached 1.5 million by the end of fiscal year 2069/70. The survey reports that vehicle import has increased by 40 per cent annually. More than 142,000 vehicles were sold in FY 2069/70 compared as to 101,000 in previous FY. Increase in remittance, raised income of middle class families and road expansion activities are seen as the key driving factors for increased vehicle sales. </div>
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