Indian Sales vs Chinese Sales

BRIC, that is, Brazil, Russia, India and China are the fastest emerging economies across the globe and the whole  world has been watching these nations. Lot of carmakers want to try their luck in these nations and have a lot of plans lined up for these nations. Two countries that stand out as strong contenders in South East Asian region are China and India.

China had surged ahead of the US market last year in terms of its sales figures. China recorded the highest number of passenger vehicles sales. The Indian market is also growing faster in comparison to the Chinese market in terms of commercial vehicle sales. The sales figures in India have increased by 77 percent while for that of China, it is 60 percent. Pawan Goenka, president of the Society of Indian Automobile Manufacturers, said that they are expecting stronger growth in the segment in the coming months because the market would be led by new-generation trucks which will be introduced by few global companies.

The steady growth in the economy of India has provided these good sales figures. Also, the GDP growth has been 8.6 percent in the quarter ending in March. IMF forecast suggest that this growth will touch 9.6 percent this year. The economic rise has also given an increased demand in transport of bulk commodities which will further lead to rise in the heavy commercial vehicles.