Skip to content

Automakers see ‘huge potential’ for growth in India

As new passenger car sales continue to beat expectations, all eyes appear to be on 2023. By Freddie Holmes

India’s new vehicle market: prospects to 2024 and beyond

Pent up demand, a favourable monsoon and other seasonal trends have contributed to a rapid recovery of India’s new vehicle market. As 2021 draws near, efforts will turn to sustaining those volumes amid a possible second wave of COVID-19.

Automakers have largely gone without state aid during the nationwide lockdown enforced in March, which was gradually ‘unlocked’ between June and October. It is an indication of just how quickly the market has rebounded, and India’s automakers are already laying out plans for growth between 2021 and 2023.

Plans centre on revamped portfolios to cater for a growing appetite for compact SUVs, new subscription and leasing plans that make car ownership more accessible, and the early stages of an electric revolution.

Steffen Knapp, Brand Director, Volkswagen Passenger Cars India
Steffen Knapp, Brand Director, Volkswagen Passenger Cars India

Weathering the storm

As restrictions gradually loosened and cars began rolling off production lines once more, automakers took sales online. It is a digitalisation process that had already been slowly filtering in—the pandemic simply accelerated efforts.

“There are several factors that have led to this leasing and subscription model, which is now being offered by nearly every automaker,” said Shailesh Chandra, President of Tata Motors’ Passenger Vehicles Business Unit. Subscriptions can

It’s time to log in (or subscribe).

Not a member? Subscribe now and let us help you understand the future of mobility.

Pro
£495/year
or £49.50/month
1 user
News
yes
Magazine
yes
Articles
yes
Special Reports
yes
Research
no
OEM Tracker
no
OEM Model Plans
no
OEM Production Data
no
OEM Sales Data
no
Pro+
£1,950/year
or £195/month
1 user
News
yes
Magazine
yes
Articles
yes
Special Reports
yes
Research
yes
OEM Tracker
yes
OEM Model Plans
yes
OEM Production Data
yes
OEM Sales Data
yes
Pro+ Team
£3,950/year
or £395/month
Up to 5 users
News
yes
Magazine
yes
Articles
yes
Special Reports
yes
Research
yes
OEM Tracker
yes
OEM Model Plans
yes
OEM Production Data
yes
OEM Sales Data
yes
Pro+ Enterprise
Unlimited
News
yes
Magazine
yes
Articles
yes
Special Reports
yes
Research
yes
OEM Tracker
yes
OEM Model Plans
yes
OEM Production Data
yes
OEM Sales Data
yes

Welcome back , to continue browsing the site, please click here