New Delhi, June 13 (PTI) India, the world after China and passenger cars and light commercial vehicles (LCVs), including light vehicles by 2020, the third largest market in the U.S. market research firm JD Power Asia Pacific, according to the will.
Country, however, improve its infrastructure, as well as component supply chain issues are solved, so will realize its vast potential.
"We anticipate that by 2020, Indian light vehicles, passenger cars and LCVs involved with total sales of nearly 12 million units for the third largest market, will become executive director of JD Power Asia Pacific Mohit Arora said.
In a report -''India 2020 Automotive: Asia the next Giant''- the firm said that currently China and India after the U.S. by 2020 jumped to sixth place would be slotted with total sales of 11.9 million light, vehicles.
In 2010, 2.7 million light vehicles were sold in India, just 700,000 light vehicles in 2000, it added.
By 2020, the China 'light vehicles market is expected to reach 35 million units, while the U.S. will rise to 17.4 million units, the report said.
He said, "The Indian market has a great potential, but major challenges lie in developing infrastructure to support the automotive industry," Arora said.
In addition, auto components supply chain in the country not only in terms of the amount above, the scale needs, but also match global standards for quality and original equipment manufacturers with integrated, he said.
The report said the average income of Indians in 2020 with the hopes of being too liberal, "vehicle demand still in the SUV and MPV segments as well as low-end passenger vehicles in the area will be focused.
"The India 'limited road infrastructure, the pricing of the vehicle roof and fuel consumption is unlikely in view of concerns about the LCV (section) will be more popular models in the microvan and will not minitruck" it said.
By 2020 an estimated 11.9 million units of light vehicles sales in India report, according to 9.28 million units, passenger cars and light trucks will account for another 2.69 million units.
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