India recently posted its highest ever car sales figure in the decade. China, the world’s largest automotive market, increased its car sales by a third. Yet, both these economies fall abysmally short in terms of comparison of vehicle ownership per 1,000 people. As today’s chart shows, the fastest growing economies like India and China are way behind their Western peers in terms of vehicle penetration. No wonder the carmakers world over are enticed by the opportunity that these markets present.
In US, No. of vehicles per 1000 persons – 765
In U.K, 426
In Russia 124
In Brazil 81
In india 12
In china 10
Data source: SIAM, UN World Statistics
This is the reason why world manufacturers of cars are coming to india to seek good market as middle and high income group now have high disposable income.
Some data taken from : 5 minutes wrap up equity master dt 12.5.2010