Two of the Chinese auto manufacturers are planning to enter Indian auto market. The Chery Automobiles and Great Wall Motors of China are eyeing Indian auto market to market their cars in the country.
Indian auto market is experiencing flat sales growth but the auto manufacturers are still hopeful about the emerging economy. India and China are two of the most important markets amongst the Asian countries that are expecting growth in the auto segment. The recent 870 exhibits from various auto makers at the Shanghai Motors Show, clearly stated that the auto manufacturers are quite keen to sell their wares and models in these emerging markets.
According to the China Automobile Industry Association, Chinese carmakers sold 4,26,000 vehicles in the first quarter of this year to capture 30 per cent of the domestic car sales market. And even as automakers around the world are in turmoil as consumer demand evaporates in the global credit crisis, the Chinese remain optimistic.