Passenger car sales grew 137 percent in the past six years, but there are still only about 13 cars per 1,000 people in India( country of 1.2 billion) compared with 35 or 40 in China and more than 800 in the United States of America.
India is the world’s sixth-largest car market and is expected to take third place behind China and the United States by the end of the decade, the management consulting firm McKinsey and Co. predicts, with annual sales growth of 12 to 14 percent from 2014 to 2020
Ford is preparing to invest $1 billion in a car assembly and engine plant in Gujarat,India that will double the company’s manufacturing capabilities.Despite opening an assembly plant in the southern city of Chennai in 1998, Ford’s market share is just 3 percent here, compared with 17 percent in the United States and 10 percent in Brazil.But as new, smaller models such as the Figo make inroads into the Indian market
Gujarat is emerging as a major new auto hub and attracting investment from U.S. carmakers eager to tap into the fast-expanding Indian market.
Automakers are focusing on faster-growing emerging markets such as India to make up for reduced demand in Europe
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