Indian Auto Industry to Face Gloomy Stance in Next 3 Years- R.C. Bhargava

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(added few years ago!)

Once being one of the brightest spot in global car business, Indian auto mobile industry seems to face gloomy picture of despair, when it comes to growth in the domestic passengers’ vehicle segment. Maruti Suzuki India, said "Indian car market may fade away in the single digits for the next three years. Moreover, the company has cut down its growth forecast to 4 million by 2015-16 from earlier 5 million units. And it is also planning to maintain its current 40% market share rather than hunting for 50%, it once targeted."

Maruti chairman R.C. Bhargava said "The market subdued estimations are due to lack of political will, which was averting government to take second-generation alterations to revitalize monetary growth. If the government is not constant after imminent general election (scheduled for 2014), single-digit growth will persist for two years more, as there are huge number of political parties that will block anything rational coming in the way."

As per reports, in year 2010-11, Indian passenger vehicle market developed 29.16% to 2.52 million units, while in year 2011-12, it grew only 4.66 percent. Company hopes the passenger vehicle industry to rise at 5% each year in the next three years, so even the target to sell 4 million units looks a remote realism, said a Maruti official. While another car industry executive suggested that 2013-14 may be a healthier year for the economy.

Tags : Maruti Suzuki India, 2015, 2016, 2010, 2011, 2012, 2014, 2013, R C Bhargava

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(added few years ago!) / 1041 views
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