According to the Society of Indian Automobile Manufacturers, for the period January to May 2017, India topped the growth of passenger vehicle sales globally. With a sales growth of 11.34 percent India overtook the 9.05 percent growth of Japan, the only other Asian economy to have grown in terms of passenger vehicle sales. Other countries that posted a marginal growth were Germany at 4.68 percent, France at 3.34 percent, and Brazil at 2.29 percent.
Due to factors such as lower penetration levels, improving road network, greater buying abilities and addition of several new models, India’s market was able to outdo its peers in the growth of new car sales, reports ET Auto.
|Jan – May ’16 and ’17 Passenger Vehicle Sales Globally|
|Country||Jan-May 16||Jan-May 17||%Change|
Source: Society of Indian Automobile Manufacturers