Indian car demand to grow by more than 3m by 2014: Audi
German luxury car-maker Audi expects the demand for cars to grow more than three million in India by 2014 as the demand of the growing middle-class for individual mobility continues to increase.
German luxury car-maker Audi expects the demand for cars to grow more than three million in India by 2014 as the demand of the growing middle-class for individual mobility continues to increase.
"Today around 14-million Indians own a car. While 2-million cars were sold in 2010, this number is expected to grow to more than 3-million in 2014," Audi said in its annual report.Population and traffic volumes are growing at a particularly rapid pace in China and India. In Mumbai, which had 20-million residents in the past year and according to a forcast by the United Nations will grow to almost 26-million residents by 2025. And the demand of the growing middle-class for individual mobility also continues to increase, the company stated in its report."Because of these developments we are faced with a completely new challenge where sustainable individual mobility is concerned," Chairman of the Board of Management of Audi AG, Rupert Stadler, said.Describing 2010 as a turbulent year for Audi, Stadler said, "we at Audi will remember it as a throughly positive one.""The company is projecting its brand values into tomorrow''s world. With models such as the Q5 hybrid quattro and the e-tron family, our solutions for future forms of individual mobility are already electrifying people today," he said.The company produced 1,150,018 cars and 1,648,193 engines in 2010, as against 932,260 cars and 1,384,240 engines last year. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
