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

This Automotive World report investigates the outlook for India’s new vehicle market by 2024, and how the region is considering future mobility solutions

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





India’s new vehicle market has made a surprising recovery from the initial disruption caused by the COVID-19 pandemic, and looks to be on track for a strong 2021. Automotive World’s latest report explores why new vehicle sales have recovered so swiftly, the impact of new emissions standards and the prospects for further growth post-2020.

Table of contents

List of figures

  • Figure 1: Indian LV demand 1995-2019
  • Figure 2: LV shares by segment (%)
  • Figure 3: India's vehicle purchase tax rates
  • Figure 4: LV market shares by brand, India 2019
  • Figure 5: GDP forecasts
  • Figure 6: Indian LV demand, 1995-2024
  • Figure 7: India, change in LV demand by brand, 2024 -v- 2019
  • Figure 8: Indian 7.5t-plus demand 2001-2019
  • Figure 9: Indian 7.5t-plus demand change & GDP growth, 2001-2019
  • Figure 10: India, HV market share by brand, 2019 (%)
  • Figure 11: India HV demand, 2001-2024

Executive summary

Chapter 1: India’s new vehicle market - prospects to 2024

  • LV demand
  • Market characteristics
  • Market shares
  • Economic outlook
  • Outlook for LV demand
  • Recent HV demand & market characteristics
  • HV market shares
  • Outlook for HV demand

Chapter 2: Future mobility in India - the industry perspective

Appendix (Excel)

  • Historic vehicle sales by OEM group and brand (2017-2019)
  • Vehicle sales forecasts by OEM group and brand (2020-2024)

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