SPOTLIGHT ON INDIAN ELECTRONICS Spotlight on Indian Electronics | Page 199

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
Spotlight on Indian Electronics 2016 | 199