Automotive Report India 1st Quarter
The Economist Intelligence Unit, March 2013, Pages: 15
India's automotive industry, once a showpiece of the country's manufacturing sector, has seen a sharp deceleration in its rate expansion in recent years amid a slowdown in overall domestic economic growth. High interest rates, differences between petrol and diesel prices, and labour disputes have also taken their toll on the industry's prospects.
In the five years to fiscal year 2010/11 (April-March) total domestic vehicle sales nearly doubled. In 2011/12-2012/13, however, growth has slumped, with growth in new passenger-car registrations slowing to under 5% a year.
The short-term slowdown notwithstanding, the Indian automotive industry's medium-term prospects remain bright, and will be boosted by growth in private consumption as well as by demographic trends. Global carmakers are still expected to step up investment in India in the medium term. The country is already the world's sixth-largest producer of vehicles in unit terms.
Industry List: Automotive, Automotive, Commercial and other vehicles, Automotive, Fuel sources, Automotive, Passenger vehicles
Industry Codes (NAIC): 336
Industry Codes (SIC): 37
Automotive Report India 1st Quarter
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