Honda, GM, Ford, BMW, Hyundai, Daimler Chrysler take Aim at India
Honda, BMW, GM, Ford, DaimlerChrysler and Hyundai are all taking aim at India.
Each has announced plans to expand production or build factories in India.
Indians bought only 1.2 million cars last year – compare 17 million were bought in the States last year.
But, the number of cars that will be purchased is expected to grow by nearly 10% each year for the next five years. (Where do they get these numbers, I wonder?)
Indians have an up and coming middle class as well as access to cheaper loans and a growing network of roads. All that adds up to – people who can afford it want the luxury, convenience and respect of having a car.
"You can get to work sooner and home sooner if you have a car."
But, India has cheaper modes of transportation available – motorbikes, auto-rickshaws, cows and elephants (seriously…You can find elephants in downtown New Delhi…but maybe not for transportation purposes.)
India also has small compact cars that go for about $3,000 and recently announced one for as low as $2,000. The beauty of these little buggers is that they double as coffins. When someone in a huge Suburban (and they will be there sooner or later)makes a tire stud out of them, they can be buried in their car.
Still, there is indeed a market for foreign cars in India…there is a market for everything in India….
What do you think?
cars are a way of life. there will often only a short amount of time between someone reaching the ability to buy one and actually doing it. it is not really too surprising that with an up and coming middle class the demand for cars is just around the corner.
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