According to information released by the Indian Automotive Industry Association (SIAM) on the 11th, the sales volume of new cars in India in December 2017 increased by 14% to 320,774 units compared with the same month of last year. The accumulated sales in 2017 increased by 10% to 401 In 2017, the number of new car sales in Germany increased 3% to 3.85 million units in the third place in 2017, with Japan increasing 5% to 5.23 million units in the third place.
Passenger car sales accounted for 80% of new car sales in India in 2017. Maruti Suzuki, the largest factory in India, recorded a 15% increase in sales volume to 1.6 million units in 2017, accounting for 49.6% of the passenger car market %, Market share rose 2.6 percentage points from 2016.
India ranks second in the world with a population of about 1.34 billion and a high proportion of young people. According to IHS Markit, a British survey firm, the Indian auto market will grow at 10% a year and is expected to surpass Japan in 2020 Become the world's third largest car market.
As the economy grew, boosting the Indian public's income also drove the Indian auto market to double in the past decade. According to the World Bank, per capita GDP in India in 2016 was around US $ 1,700, an increase of 7 over 2007 (about US $ 1,020) to make.