Aspiring to be on top, the Indian car market is aiming to surpass Japan as the number two vehicle market in Asia by year 2012, as remarked by Wall Street Journal. The reports from Wall Street Journal, which are based on data and research from IHS Automotive also state that car sales in China, Asia and other world’s largest market will prosper the same way in the remaining decade.
As per reports, China will record a sales increase of 30.68 million vehicle units by 2020; an attractive 74% hike from last year’s 17.66 million. The research includes only vehicles like cars and light trucks and not buses or trucks.
As the market struggles in Europe, China is all set to take over the market and is expected to flourish to 19.21 million vehicles. On the contrary, the sale of Indian auto market is likely to bloom at 4.88 million vehicles by year 2016, a very refined increment from 2.91 million of last year.
Next considering Japan’s sales as per IHS research, the same will decline by the end of the decade. Last year due to earthquake, tsunami and floods in Thailand the production was hampered and the market posted only 4.13 million sales but now the same is expected to recover this year to 5.19 million. And later, India is likely to surpass Japan by 2016 when its sale is projected to be 4.51 million vehicles by 2012, as predicted by IHS. Further the sales will wither to around 4.35 million in 2020.
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