Lucrative auto market of India draws attention of global SUV makers

Thursday 13 December 2012, 11:19 AM by

Despite the Indian auto market already having a large number of SUVs from reputed domestic auto makers like Mahindra & Mahindra (M&M) and Tata Motors, foreign SUV manufacturers are vying for launching their own SUVs in the country. This can be accounted to the immediate hit of the Duster SUV from the stables of the French auto maker, Renault that was introduced in the country in mid-2012. The Duster, which is a compact SUV, in the first five months of its launch, has done a good business in India. The success of Duster opened doors for compact SUVs in the country and the first to follow it was the Quanto from the stables of none other than India's largest SUV maker Mahindra & Mahindra. The Quanto, which is the mini sibling of the Xylo, too became a success within a short period of its launch.

Lucrative auto market of India draws attention of global SUV makers |
Lucrative auto market of India draws attention of global SUV makers

The back-to-back success of two compact SUVs in the country has drawn the attention of foreign SUV makers towards the Indian auto market. The American auto giant Fiat, plans to bring its popular Jeep in the country. The company also eyes to capture a significant portion of the SUV market share.

Mike Manley, Chrysler's President and Chief Executive Officer for the Jeep brand, talking to reporters said, "Our vision for India will revolve around a three-pronged strategy. First, introduction of new vehicles that will soon include the legendary Jeep brand. Second the expansion of our independent dealer network and finally, strong marketing initiatives that will continue to improve our awareness and brand perception in the market." Manley also pointed out, "Our goal is to reach 5 percent market share in the foreseeable future."

The other car maker that aims to enter Indian auto market is the China based Great Wall Motor Co. The company is popular for making sport-utility vehicle and pick-up trucks and has its presence in countries like Russia and South Africa. Great Wall, which is China's eighth largest car-maker, eyes to start manufacturing in India by 2016. As no other Chinese companies has so far given any indication of coming to India, therefore, Great Wall Motor Co. would be the first Chinese auto maker to launch its vehicles in the lucrative auto market of the country.

While Jeep and Great Wall have already expressed their desire to enter the Indian shores, other foreign SUV makers too may follow suit. This would eat up some of the trusted customers of M&M and Tata; therefore, the domestic SUV makers should be prepared to face challenge from global SUV makers.

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