HIGH PRIORITY MARKET- AUTOMOBILE
National Electric Mobility Mission Plan( NEMMP) 2020
|
|
CAGR: 25.6 %
5.1
|
10 |
Passenger vehicles to increase at a CAGR of 25.6 per cent during FY15 – 20 |
3.2
FY15
|
FY16 million |
FY20 |
|
|
CAGR: 30.9 %
1.4
|
2.7 |
Commercial vehicles expected to register a CAGR of 30.9 per cent during FY15 – 20 |
0.7
FY15
|
FY16 million |
FY20 |
|
19.4 |
CAGR: 12.6 %
21
|
35.1 |
Two and Three wheelers projected to expand at a CAGR of 12.6 per cent during FY15 – 20 |
FY15 |
FY16 million |
FY20 |
Source: SIAM, NEMMP 2020, TechSci Research Note: Denomination- Million Units
LUXURY CARS GAINING TRACTION IN INDIA
Scenario
The Indian luxury car market expanded at a CAGR of 37.12 per cent during FY07-15, with 50,000 units in 2015( about 1 per cent of the passenger vehicle market in India). The market is dominated by players such as BMW, Mercedes, Audi, Jaguar. Audi sold 11,292 units in 2014-15, while the biggest luxury car seller Mercedes-Benz sold around 11,213 cars in in FY15.
Key drivers
India has the world ' s 12thlargest HNI population, with a growth of 20.8 per cent( highest among the top 12 countries). With expansion in the education and realty sectors, and increasing wealth of IT professionals, more consumers aspire to own luxury cars. Affluent class of the country is driving the demand of the luxury cars
Trends
The Indian luxury car market is estimated to expand at a CAGR of 25 per cent during 2012 – 20 and reach 150,000 units by 2020( accounting for 4 per cent of the estimated 6.8-million-unit domestic car market) The luxury SUV segment is growing at about 50 per cent, while luxury sedans are increasing 25 – 30 per cent Audi to launch Q7 SUV and new sports car TT later in the year. Merceds Benz is planning to launch 15 new models in India in 2015. The company have increased its production capacity in Pune to 20,000 units.
Source: World Wealth Report( 2011) of Merrill Lynch Wealth Management and Capgemini, TechSci Research, News articles Note: HNI- High Networth Individuals
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