LV sales in China and India: a fair comparison?

Following an almost 7% decline in 2013, India’s light vehicle (LV) demand grew in 2014 by 1% to 2.9 million units. However, some question why India’s LV market has typically lagged behind China given a number of similarities between the two markets.

Speaking during a recent Automotive World webinar, India’s new vehicle market: Prospects to 2019, Jonathon Storey, Director, Automotive Reports compared the sales progression of India’s and China’s LV markets. “Our analysis indicates that comparing India and China at corresponding income levels is a very fair exercise and helpful for the forecasting process. By adding in the 2/3-wheeler component, we get a really good fit between the two markets,” he explained.