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India, home of the $2,500 Tata Motors Nano, is quickly becoming the capital of a new generation of tiny econo-cars as major auto manufacturers crowd into the fast-growing market. Over the next 18 to 24 months, Honda, Toyota, Ford, General Motors and Nissan-Renault are all launching compact vehicles for India, which is rising as a manufacturing and export hub for cheap, fuel-efficient transportation...
...total of 350,000 cars will be exported from India this year, 30% more than were exported in 2008. As factory output grows, India's economy as a whole will get a boost, says Abdul Majeed, who heads the auto practice at PricewaterhouseCoopers in Chennai. Currently, the auto sector accounts less than 1% of India's gross domestic product, says Majeed, compared with 3.5% in China and 4.5% for the world as a whole. Economists say the automaking could account for 10% of India...
...With auto sales in the West in a deep slump, 2009 saw carmakers increasingly focus on developing countries like China and India, which have largely shrugged off the global recession and where disposable incomes continue to grow rapidly. China this year will surpass the U.S as the world's largest car market, while India has become the largest market for small cars, according to Dilip Chenoy, director general of the Society for Indian Automobile Manufacturers. Four out of every five cars sold in India are small cars, defined as vehicles with engines displacing less than 1.2 liters. (Ten Things...
...Meanwhile Nissan's Micra hatchback will debut in India in May. And Renault, which has a tie-up with India's Bajaj Auto, is taking on the 660 cc-engine Nano by developing its own low-priced city car that will be constructed partially of motorcycle parts to save costs. (See the 12 most important cars of all time...
...trade publication. But the latest generation of vehicles will meet the latest European emission standards, and India's "road infrastructure is being rapidly improved to accommodate the new fleet," Lam says. At the moment, nothing seems able to stall India's drive to become a player in the global auto industry...