India ahead of China in auto sales growth

[CaptainJackSparrow]

India ahead of China in auto sales growth​

India has emerged the fastest-growing car market in 2010-11, thanks to a relentless spurt in demand in the domestic market and an unprecedented slowdown in growth in China. The Indian car market grew by over 29% during the year, with record sales in the first three months this year, while China saw
its slowest quarterly growth in two years in the same period.

The dragon nation still managed to grow by a healthy 25% during the fiscal but this was significantly off the 40% pace it set in the previous fiscal.

The world’s number 2 market, the US, saw sales rebound to a near-14% growth while Europe’s largest car market Germany saw a shock decline. Expectations of a relative slowdown in India have been offset, and the growth engine seems set to chug along.

“We have been setting rather conservative targets but have been pleasantly surprised by the growth last year,” said Sugato Sen, senior director, Society of Indian Automobile Manufacturers (SIAM). “The target was revised upwards quite a few times during the year and even then growth exceeded it by the end of the year. This year we expect a growth of 16-18% but will not be surprised if a similar thing happens again.”

China and India have been at the forefront of the automobile industry since the 2008 recession spooked developed markets like Europe, Japan and the US. While there continues to be a great deal of uncertainty all around, the Indian story is only getting stronger.

“Coming after a more than 20% growth in the previous fiscal, it is commendable to achieve this growth,” said Mayank Pareek, managing executive officer (marketing and sales), Maruti Suzuki India Ltd. “However I am not surprised, and expect the car market to be atleast 4.5 million to 5.5 million unit strong by 2015.”

In China on the other hand there is a sense of pessimism with some even predicting a decline this year, a rarity in recent history. The impact of withdrawal of low tax rates for cars and introduction of licensing by Beijing Municipal government to restrict sales, is already being felt.

“In the short term, industry may go into reverse gear,” said Rao Da, head, China Passenger Car Association, a quasi official body.

India ahead of China in auto sales growth - Hindustan Times

 

[Abhishek_]

celebrating petty accomplishments to soothe ourselves against china?

 

[CaptainJackSparrow]

celebrating petty accomplishments to soothe ourselves against china?

And this seems petty to you?

A market growing at over 29% seems petty to you?

Do you have even an iota of an idea as to what this signifies in terms of customer purchasing power?

You should give up that weed, you know, matey!

 

[prototype]

Its a good news,but but I am frustrated by the amount of comparison's brought forward with China,comeon they could have even published this news even without mentioning China,I am also a subscriber of Hindustan Times,those guys in HT are obsessed with China.

 

[Abhishek_]

And this seems petty to you?

I would have preferred Indian media to leave out china for once. No wonder chinese members complain we drag china in our affairs unnecessarily

 

[farhan_9909]

china has nt yet taken USA down

and india is getting ahead of china in many things

 

[CaptainJackSparrow]

Its a good news,but but I am frustrated by the amount of comparison's brought forward with China,comeon they could have even published this news even without mentioning China,I am also a subscriber of Hindustan Times,those guys in HT are obsessed with China.

What's wrong in comparing with China?

You need to compare yourself with the guy coming first in order to come first yourself.

 

[CaptainJackSparrow]

I would have preferred Indian media to leave out china for once. No wonder chinese members complain we drag china in our affairs unnecessarily

I'd rather call this 'inspiration'. It depends whether you want to view the glass half empty or half full.

 

[ramu]

What's wrong in comparing with China?

You need to compare yourself with the guy coming first in order to come first yourself.

Let us set our focus on real GDP instead.

 

[Abhishek_]

And this seems petty to you?

A market growing at over 29% seems petty to you?

Do you have even an iota of an idea as to what this signifies in terms of customer purchasing power?

You should give up that weed, you know, matey!

Chinese vehicle production: 18,264,667 (growing at 25 %)
Indian vehicle production: 3,786,849 ( growing at 29%)

Would you mind doing a bit of math, I'm too busy smoking weed

 

[CaptainJackSparrow]

Let us set our focus on real GDP instead.

And forget everything else...GDP will take care of its own, eh?

 

[CaptainJackSparrow]

Chinese vehicle production: 18,264,667 (growing at 25 %)
Indian vehicle production: 3,536,783 ( growing at 29%)

Would you mind doing a bit of math, I'm too busy smoking weed

Hey Ram!

Dude! this is not about production. This is about sales.

Sales means customers are spending.

Customers spendiing means more liquidity in the economy.

which means banks are lending more.

which shows lender's confidence.

I could go on but hey with you on weed, what's the use?

 

[gaurish]

We need to understand that majority of the auto companies in India are from abroad mainly japan korea and USA so we keed to know how much indian money is going out of India with this rise in sales ...

Only few Indian companies such as TATA and Mahindra

 

[tanlixiang28776]

We need to understand that majority of the auto companies in India are from abroad mainly japan korea and USA so we keed to know how much indian money is going out of India with this rise in sales ...

Only few Indian companies such as TATA and Mahindra

Same problem in China. Only 44% is entirely domestic. The others are JVs with with foreign companies.

 

[gaurish]

Same problem in China. Only 44% is entirely domestic. The others are JVs with with foreign companies.

Yeah correct...... so we should not jump up and down with the sales .... its just seems like illusional