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With 7 million units, it is projected to overtake Japan, Germany and Korea by 2017; to beat initial estimate of becoming third-largest market globally by 2020.[/FONT]
India has overtaken Brazil as the worlds sixth largest automobile manufacturing country, going by data on the first six months this year, according to the international organisation of motor vehicle manufacturers.
China continued to be the frontrunner with production of 9.16 million units till June, while Indias share in vehicle production, as compared to China, has improved sharply between January and June this year.
While last year, India produced a sixth of the number of vehicles rolled out in China, till June this year the country produced more than a fifth of the number of vehicles manufactured in east Asian nation. Indias market share in global vehicle production moved up marginally to five per cent from the earlier 4.5 per cent during this period.
What is boosting business confidence is that despite the economic uncertainties prevailing in global and domestic markets, India remained among the fastest-growing automobile markets in the world till October this year. While US topped the charts growing by 10.1 per cent to sell 10.54 million vehicles, Germany and India followed close behind growing by around eight per cent (to 2.93 mn units) and 7.8 per cent (to 2.73 mn units), respectively.
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India overtakes Brazil as sixth largest vehicle maker
India has overtaken Brazil as the worlds sixth largest automobile manufacturing country, going by data on the first six months this year, according to the international organisation of motor vehicle manufacturers.
China continued to be the frontrunner with production of 9.16 million units till June, while Indias share in vehicle production, as compared to China, has improved sharply between January and June this year.
While last year, India produced a sixth of the number of vehicles rolled out in China, till June this year the country produced more than a fifth of the number of vehicles manufactured in east Asian nation. Indias market share in global vehicle production moved up marginally to five per cent from the earlier 4.5 per cent during this period.
What is boosting business confidence is that despite the economic uncertainties prevailing in global and domestic markets, India remained among the fastest-growing automobile markets in the world till October this year. While US topped the charts growing by 10.1 per cent to sell 10.54 million vehicles, Germany and India followed close behind growing by around eight per cent (to 2.93 mn units) and 7.8 per cent (to 2.73 mn units), respectively.
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India overtakes Brazil as sixth largest vehicle maker
