India Expected to Become World’s 3rd Largest Automotive Market by 2016

According to a market survey conducted by U.S. IHS, India shows a great potential to become the world’s 3rd largest automotive market by 2016 and will leave Japan, Germany, Brazil behind. In addition, the production of compact vehicles in India may reach 7 million units by 2020. With the growing economy, the accumulation of fortunes, and the increasing frequency of traveling in India, the demand for automobiles is also increasing. IHS pointed that as the infrastructure in India is not yet complete, it will take a little bit longer for India to realize “Fast Development,” however, the day will still come soon or later.