Car Market in India

Car Market in India
The first car rolled onto the Indian Roads in the year 1898 and since then announced the onset of the Indian automobile market or as can be said, the Car Market in India. Initially, the car market in India did not experience much boom but with intervention of the favorable government policies the automobile market in India and car market in India, specifically, have seen great developments.

Car Markets in India experiences growth
The liberation policy of the Indian government has encouraged several foreign investors to come in and invest generously in the automobile market. Decrease in the rate of duties for small cars has also encouraged a significant boom in the automobile industry. By noticing the trend of car buyers, sellers and manufacturers, it has been stated that the car market in India can be ranked the third largest car market in the world after China and USA. Indian automobile market has seen a brighter prospect to grow in India today than what it used to be in the past with some unfavorable government issues.

Reasons for the growth of Car Market in India
The reasons for a vital growth in the car market in India are many. A good network of roads and transportation system that has emerged recently in India has definitely added to the growth in the car market.

While observing it from the economy point of view, it is noticed that with the growth in the GDP, per capita income and high ownership capacity which are a result of several foreign companies coming in, has led to a significant rise in the lifestyle of the people residing in the country and earning a livelihood from the several foreign companies that has come in and consequently this high standard of living has given the car market an attention, which in turn is growing with time and is sure to scale newer heights in time to come.

Growth of car markets in India is also the result of shedding of the geographical limitations through the intervention of media. Openness to the greater world has given people an idea and a desire for owing cars which are technologically modern and technically better and definitely improved.

Car market in India is sure to experience growth and rise for the fact that India now operates as a nodal point for various car manufacturers which are originally foreign companies but have rested their faith on the fact of developing the India as a car manufacturing ground with man power easily available which is turn is definitely in a motion to eradicate the unemployment scenario of the country.
source:http://www.cars.headlinesindia.com