Indian car industry is on an upswing, even at the time when carmakers are finding it difficult to ground themselves. Automakers from around the world are heavily investing in Indian car market and enforcing car-after-car strategy, unfazed of global automotive trend. Unorthodox Indian market has been delighting car aspirants with value-of-money models.
Car makers such as Mahindra, Maruti, Honda and Hyundai have rolled out models to cheer up Indian audience during celebrations of Deepawali. All the new models, which include Mahindra XUV 500, Hyundai Eon, Maruti Suzuki Swift and Honda Brio from these well-known car making enterprises have received an overwhelming response. These new age models could not comply with market demand and are overbooked.
In the mean time, car sector collapsed in several markets across the globe. This has also led to bankruptcies and foreclosures in certain economies; as a consequence general economic stress has come into picture. Moreover, the automakers operating in US, European nations and Japan have expertise remarkable slump in sales over the past year. On the contrary, Indian car industry is cruising at a steady rate, providing ideal breakthroughs new entrants and revised editions.
Mahindra & Mahindra is the biggest gainer during in India at the moment, which will certainly reposition itself in the market with Mahindra XUV500 SUV. The automaker received exceptional response from the market and was forced to close advance bookings. To meet this upsurging demand, Mahindra & Mahindra is increasing production capacity for this off-roader. In this manner, XUV 500 will be only available in cosmopolitan cities of Mumbai, Delhi, Bangalore, Chennai and Pune in the initial phase.
The car maker has also urged aspirants to avail two wheel drive variant instead four wheel drive, which is considerably low in demand. Moreover, pearl white colour of the model has been overbooked.
Hyundai EON received warm response from target audience, fetching 7500 car bookings within 10 days before its launch. This compact car is expected to boost sales of Hyundai Motor Company, which aims eclipse Maruti Suzuki India Limited to become leading car manufacturer in India. EON contends against long-haul Maruti Alto which has dominated small car segment for over 9 years now. To meet high demand, the car making company has ramped up production from 2,000 per month to 5,000 per month. Currently available in petrol version, EON will be available in diesel, LPG and CNG version.
On the other hand, India's leading automaker Maruti Suzuki India Limited was the biggest flop of the season. The reputation of automaker has been hampered with delayed sales and reduced production rate. Bookings of several models have been cancelled due to halted production and waiting period of over four months. In this situation, new Maruti Swift hatchback has been on the receiving end.
The Indian auto market is yet again showing an unconventional trend unlike global car markets, driving factors being human behaviour. Given the large middle class section, value-for-money car in several segments have churned out revenues for automakers across the globe.
