India Presence to be Strengthened With German Automotive Industry
Date : January 10, 2012
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In order to strengthen market presence in India the German automotive industry has decided to increase its exports to the country by 53 per cent.
The industry is showcasing its products in the ongoing Auto Expo 2012 at Pragati Maidan in New Delhi. A total of 36 suppliers are exhibiting at the official German Pavilion. This is the highest number ever, and represents growth of 80 per cent.
"The German automotive industry is strengthening its presence on Indias growth market. Exports to India of German passenger cars alone rose in 2011 by just over 70 per cent to 25,000 units. The export volume has increased ten-fold over the last six decades," said Managing Director of the German Association of the Automotive Industry (VDA) at the press conference in the German Pavilion at the Auto Expo.
German group brands pushed up their sales by 80 per cent to over 120,000 million passenger cars."The German OEM suppliers thus strategically improving their market presence in the volume segment too," he said.
"The India automotive market, with its large potential, is on course for long-term growth. Owing to several hikes in the interest rates and higher petrol prices, 2011 was a year of relatively moderate growth. However, one may expect that the market will regain its dynamism" he added.
"In 2013 Indias passenger car market may reach 3.3 million units, which would be larger than the German car market. And vehicles sales in India will double by the end of the decade, to exceed the 5 million mark," he said
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