Indian Ultra Low and Low Cost Car Market Analysis by Smart Research Insights21 Mar 2012 • by Natalie Aster
India is globally a preferred automobile manufacturing and sale location. With the launch of Tata Motor’s Nano the ultra low cost car (ULCC) and the low cost car segments are generating significant interest among the automobile players operating in India.
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, “Analysis of the Indian Ultra Low and Low Cost Car Market” by Smart Research Insights, 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.
Analysis of the Indian Ultra Low and Low Cost Car Market
Published: October, 2011
Price: US$ 800,00
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.
More information can be found in the report “Analysis of the Indian Ultra Low and Low Cost Car Market” by Smart Research Insights.
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