Indian Market Analysts are jubilant over the fact that India has the fastest growing automobile industry (passenger cars segment) in the world today. This is seen as the result of rapid increase of middle-class population in the country combined with the government's pro-development policies.
The findings of International Organisation of Motor Vehicle Manufacturers revealed that in India the car production had grown to 30% in 2004, thus leading the table, Brazil came a distant second with the increase of 17%.
The table below attempts to capture in figures the rapid growth of production of automobile Sector in India
Types of Vehicle
2002-03
2003-04
2004-05
2005-06
Passenger Vehicles
557400
782550
960480
1045880
Utility Vehicles
114470
146330
182020
196380
Multipurpose Vehicles
51450
60670
67370
66665
Total
723320
989550
129870
1308925
automobileIndia.com provides information on Vehicle Production and other aspects of automobiles in India
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