Automotive industry trends 2017 pdfThe continued dominance of the SUV meant sales of classic segments continued to decline, with compact vehicles, midsize sedans, wagons and MPVs impacted the most. Compact cars registered 14.92 million sales, a decline of 4.five% on the previous year, which can be attributed to decreased demand in the large five markets, and in China which has succumbed to the SUV boom. City-car sales continued to develop, largely as a result of demand in the Japanese industry which posted a 14.4% increase on last year, due to the dominance of kei-automobiles. Pickups also posted robust outcomes, as demand in North America remained powerful and their reputation increased in Europe, Latin America and the Asia-Pacific region.
SUVs contributed significantly to the automotive industry’s strong functionality, accounting for the biggest market share in China, North America and Europe (the 3 largest regions), yet were not as well-known in the 3 smallest regions – Asia-Pacific, Japan and South Korea and Latin America. The subcompact was the most well-known segment in Asia-Pacific and Latin America, while city-vehicles secured the biggest market share in Japan, demonstrating that there is nonetheless scope for the SUV to develop as its reputation spreads.
The automobile sector in India is world’s fourth biggest, with the country at the moment getting the world’s 4th biggest manufacturer of vehicles and 7th largest manufacturer of industrial automobiles in 2017. Indian automotive market (like component manufacturing) is expected to reach Rs 16.16-18.18 trillion (US$ 251.four-282.8 billion) by 2026. Two-wheelers dominate the business and produced up 81 per cent share in the domestic automobile sales in FY18. General, Domestic automobiles sales enhanced at 7.01 per cent CAGR in between FY13-18 with 24.97 million vehicles getting sold in FY18. Indian automobile business has received Foreign Direct Investments (FDI) worth US$ 20.36 billion …Read more