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New entrants at Auto Expo 2012
Players like Bugatti, Ferrari, Peugeot, Daimler CV, BMW Motorrad and Polaris are the new names joining the exhibitor list at Auto Expo 2012 but what promise the Indian automobile market holds for them?
PAWAN CHABRA | New Delhi, December 27, 2011 16:25
Tags : Auto Expo 2012 |
Tags : Auto Expo 2012 |
After the first Auto Expo that was held in year 1986, the list of automobile manufacturers showcasing their products at this event has only swelled over the past 25 years. And as it goes on towards the 11th edition in January 2012, amidst the bigwigs and established giants in the Indian market, there will be many new names that will be present at the event as well.
Manufacturers like Peugeot Citroen, premium car maker Bugatti, Ferrari, local player Garware Motors, which has recently started selling Hyosung superbikes, Daimler Commercial Vehicles, BMW Motorrad, off-road vehicle maker Polaris and the UK-based Triumph Motorcycles are the new names that are participating at the expo for the first time this year. Undeniably, Auto Expo is one of the most awaited events for automobile enthusiasts and it is one of the biggest reasons why almost every manufacturer wants to grab a bigger space out of total built-up area of around 70,000 sq metres available at Pragati Maidan, New Delhi. However, what is interesting to note here is that what promise does the Indian automobile market hold for these new entrants?
While 2011 has been a mixed year for the automobile industry in terms of unit sales but the Indian market is believed to be one of the potential markets for the future both in terms of manufacturing and domestic demand. Considering the fact that India is the fourth largest commercial vehicle market, second largest two-wheeler market and 11th largest passenger car market in the world, there are several reasons why every major global automobile player wants parking space here. For the uninitiated, it is expected to be the seventh largest passenger car market by 2016 and as per the estimates from J. D. Power & Associates, the third largest market by 2020.
India is a key market for manufacturers today both in terms of domestic demand and manufacturing capabilities. Global players like Ford, Hyundai, Nissan and GM et al have already drawn plans to make India as an export hub for the coming times and the new players that are joining the expo this year come with similar intentions. Across segments, the low penetration in the country gives a huge opportunity to these players to bank upon as the OEMs try to woo the consumer at the upcoming auto show. For instance, Polaris, an off-road vehicle manufacturer, is trying to create a segment for such products in the country and going by the global trends, the market in India is still at a very nascent stage.
As it evident from the past few editions, players like to show-off their technological capabilities at the expo and the consumer can expect the new entrants to follow the suit. Peugeot, for instance, will be showcasing the 508 and RCZ models for the consumer while Bugatti and Ferrari will be showcasing products like Veyron and the recently-launched FF apart from other models respectively. It is believed that the number of OEMs in the country is only expected to grow in times to come and as a result, there will only be more and more exhibitors trying to book space at the Auto Expo.
Issue Dated: Feb 5, 2017
