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Indian automakers poised to dominate export market in 5 yrs
Indian auto manufacturers are well poised to become "winners" in terms of global market share in the next five years to join the ranks of established players like Hyundai, Toyota, Honda and Volkswagen, a survey says.
Indian auto manufacturers are well poised to become "winners" in terms of global market share in the next five years to join the ranks of established players like Hyundai, Toyota, Honda and Volkswagen, a survey says.
According to a survey by leading consultancy firm KPMG, global automotive market share winners over the next five years would include various new Chinese and Indian vehicle manufacturers, along with leaders like Kia/Hyundai, Toyota, Honda and Volkswagen.
When 200 senior executives were asked to predict firms that will have a major chunk of the export market over the next five years, they identified "various new Chinese and Indian vehicle manufacturers, as well as the existing global players Kia/Hyundai, Toyota, Honda and Volkswagen as leaders again this year," KPMG said.
Among firms that remained on the low rung of market share expectations were General Motors and Chrysler.
"The respondents believe the winners will be those companies able to gain market share in an uncertain economic environment while also leveraging global products and supply chains," KPMG LLP National Automotive Industry leader Gary Silberg said.
The survey said the auto industry is stabilising over the next five years with new investment and growth on the horizon.
The global auto industry is still facing "economic headwinds" like high un-employment rates, constraint in credit markets and lack of clarity in government regulations and stimulus programme.
