Due to the slowing car market of giants like the US, China and Japan, India’s auto market economy got a hype of 7.64%.The first 11 months of the year 2015 brought a new phase in the Indian car market, which resulted in improving the standard of the nations economical market and took India to the 8th spot amongst the top ten auto revenue generator.
The pace of growth made India the world’s fifth largest passenger vehicle market by volume, surpassing Brazil where sales declined the most. China continues to be the world’s biggest auto market by volume.
According to data provided by the Society of Indian Automobile Manufacturers (Siam) and Organisation Internationale des Constructeursd’Automobiles (OICA), a Paris-based federation of international automobile manufacturers, India sold as many as 2.54 million passenger vehicles in the 11 months.
