India is set to become the 3rd largest Auto market by 2020? Enthusiast’s view of the Auto sector in India.
India is set to become the third largest auto market by 2020 according to a McKinsey report. This report was published when the auto sector in India was growing at 30% year-on-year, but since the last few months there has been degrowth in this sector. So the big question is what is the future of the auto sector in India?
Michael Boneham, the President of Ford India said a few months back that nobody had predicted the sudden demand for diesel engines after the price of petrol was increased 13 times since last 2 years. Today, there is an average waiting period of 2 months for most diesel cars in India. So, why was whole of the auto-sector caught napping? Why was there no increase in the diesel cars’ production capacity? It is very clear, like Steve Jobs said, it is easy to make the future than predict it.
Everyone predicted the doom of Maruti Suzuki once the global car manufacturers set up shop in India. However, the truth is, Read more…
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