It is estimated that the ULCC and low cost car market in India is anticipated to grow at a CAGR of approximately 25% during 2010-2020. Growth is being witnessed in the segment on the back of increasing demand from rural areas and Tier II cities. The lower per capita income and affluence level of consumers in these areas drives the growth of low cost cars attractive to them. Also the increasing number of young working class families in Tier II cities is demanding lower cost four wheelers.
The report highlights key drivers of and trends emerging in the Indian ULCC and low cost car market. A detailed study of key players in the market has been presented as the segment is currently very dynamic. On one hand players such as Ford and Renault-Nissan have shelved their plans to enter the segment, while Hyundai and Maruti Suzuki are looking to launch their range of low cost models by the end of 2012.
The impact of the rising steel and fuel prices on the sales of low cost cars along with the overall growth potential of the segment has been examined. Also, the viability of ULC and low cost vehicle segment has been studied with an aim of shedding light on what strategies can be adopted to succeed in the market.
Research methodology and delivery time:
Smart Research Insights has conducted in depth secondary research to arrive at key insights. Data collected from key industry sources has been analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.
The report is available as single-site single-user license. The delivery time for the electronic version of the report is 3 business days as each copy undergoes thorough quality check and is updated with the most recent information available. The delivery time for hard copies is approximately 3-5 business days, as each hard copy is custom printed for the client.
2. India Ultra Low Cost Car Market
2.1 Current Performance
2.2 Future Outlook
3. India Low Cost Car Market
3.1 Current Performance
3.2 Future Outlook
4. Key Market Trends and Drivers
5. Key Players
5.1 Tata Motors
5.2 Maruti Suzuki
6. Viability of the Ultra Low and Low Cost Car Segments
7. Research Methodology
8. About Smart Research Insights