Indian Auto Market magnets five auto majors to invest in India

Five auto biggies Chrysler, Kia, Peugeot, Truimph and Scania are looking forward to invest in the second fastest growing auto market worldwide, India. Global automobile market is eyeing on the Indian auto market. These auto giants are making plans to enter the Indian auto market.

As per the report given by, Ernst & Young, India is expected to beat North America, China and Europe and will be emerging as the fastest growing auto market soon.

It was being heard that, PSA Peugeot, the France biggest auto manufacturer is planning to set up manufacturing facility and for that it is in talks with few state governments for land. As per the reports the company wishes to enter the domestic car market with 100 per cent Indian subsidiary.

The experts in making elegant and good looking hatchback and sedans which holds a major market in Europe is speculated to declare its plans for India in some time. As per the senior executive from the comapany, it may be announced within few weeks time.

Peugeot also talked with Mitsubishi, the Japanese Motor brand to collaborate in the manufacturing ventures for India which did not prove to be fruitful. These auto giants own a joint facility in Russia. In India, Mitsubishi has a manufacturing units in Chennai which makes sedans and SUVs.

Chrysler, the US based car makers which are hit by the financial crisis has announced its bankruptcy, is interested in bring its cars in the domestic auto market. Fiat, the Italian auto makers owns 20 per cent stakes in Chrysler. Fiat India is in joint venture with the one of the biggest Indian auto maker Tata Motors.

The Chrysler spokesperson stated that, Indian auto market is a growing bet for the global auto sector. But Chrysler spokesperson refused to share the future plans of the company. Fiat plans to bring Chrysler in one company after it increase its share to 35 per cent in US car company.

The Korean Kia Motors, affiliated by Hyundai Motors, the company's Indian subsidiary, the second biggest auto manufacturer in Korea, is eyeing on the Indian auto market. The company is willing to launch the SUVs and small car in the domestic market.

As per the reports, Kia Motors Venga, the four door hatchback, which is on the same lines of Hyundai i20 model, is likely to be launched in India.

Kia spokesperson said that, the company is making the blueprint to enter the domestic market by studying the Indian auto market. He also said that, it will be very early to comment on when the company is ready to explore the Indian auto market. He did not deny on using Hyundai's manufacturing unit to assemble its cars.

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