India to be No. 3 auto market by 2015

Source: Livemint

Mumbai: China, the US and India—that will be the pecking order of the global automobiles market by volumes by 2015, according to Rothschild, the UK-based global financial advisory firm.

Currently, India is the sixth largest market after China, the US, Germany, Japan and Brazil. The market, which includes cars, trucks and auto parts, is expected to be 3.5 million units by the end of 2011-12, Vikas Sehgal, global head of automotive industry at Rothschild, said at a press briefing.

Auto makers in India will make thrice the investment in creating capacities in the coming decade than what they have done between 1983 and 2010, Sehgal said.

Car production capacity in the country is expected to increase from 4.8 million units in 2010 to 12 million in 2018. These numbers will roll out from 30 new factories in eight years.

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