Domestic sales in the Indian PV market is expected to grow at a CAGR of % with sales volume rising from million units in FY 2014 to million units in FY 2019.
With significant contribution in the PC segment, Maruti Suzuki and Hyundai are likely to drive the domestic sales of PVs in India by FY 2019.
Indian OEMs—Tata Motors and Mahindra are expected to increase their market share in the UV segment by FY 2019.
Further, participants like Maruti Suzuki, Ford, Nissan, and Hyundai are likely to add volumes to the compact UV segment with their new launches.
Compared to FY 2014, PV sales in India in FY 2019 is likely to be dominated by gasoline variant vehicles, due to the narrowing price difference between gasoline and diesel and new launches in the UV and super compact segments
About this report
Driven by aggressive pricing, the Indian passenger vehicle market is expected to grow with launch of entry level sedans (super compacts) and compact SUVs until 2019. Domestic sales of PVs in India decreased from 2,686,768 units in FY 2013 to 2,431,250 units in FY 2014, registering a decline of 9.5% due to the increase in fuel cost, lending rate, and current economic conditions. With the narrowing price difference between gasoline and diesel variant vehicles and newer technologies being introduced in gasoline engines, the share of diesel vehicles is likely to decline in the near future. The overall inflation remains high due to a persistent rise in fuel prices and is expected to continue for the next few months or a year.
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