Chris Woodyard is an auto writer for USA TODAY. He has got wide knowledge regarding the auto industry and covers all the aspects regarding the automobiles in his posts.
Though China automobile market is growing tremendously, the South Asian nation India, is expected to beat America in auto sales, by 2015. India is expected to be the fourth largest automotive market by volume in the world. In the 2030s, sales are expected to exceed the U.S. Market. According to a recent study by consultants Booz and Co., its concluded that the global automotive game will be led by India and China at least in the number of the sales made.
The largest segment in the Indian auto market is the small car’s segment and lot of consumers in India spend less than $8000 for buying a car, as the country is found to be dominated by middle class families. For example, Ford which is introducing Focus in India and US, is introducing it with lower quality materials in India so as to get the price down, and another one is of Tata, which introduced Nano costing only $2,000. Not only Ford, there are even other automakers who are operating in the global market and also targeting the Indian markets like Volkswagen, Chevrolet, Toyota, Hyundai, Nissan, Mercedes, Audi etc.
The study made by Booz also says that the contribution of the India and China markets to the world economy is growing fast. By 2050, the two markets are anticipated to hit an all time high contribution of 60% and will be rising there after.