India will be 4th largest car market in world

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India will become the forth largest car market in the world in the next three years but will require another huge investment in this industry. The required investment is about USD 20 billion and nine new plants to meet the demand by then, Only US, China and Japan will be ahead of India,According to an global Consultant.

Currently the domestic passenger vehicle market is the seventh largest in the world and is likely to grow 15-20 percent every year till 2013.According to SAIM the passenger vehicles stood about 2 million units in 2009 -10 and is expected to reach 2.4 million units in this fiscal year.

The automakers will not only have to increase their capacities but also have to strengthen their distribution network  R&D capabilities supplies because the market will be much more competitive than it is now.

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