X-1R set to grow with India’s Auto Market
As China slows down, India is set to outpace the rest of the world. The second most populous country could be a bright spot amidst a gloomy global automotive forecast.
Our sponsor, X-1R Corporation, is strengthening its foothold in India through a tie-up with GS Auto International Ltd. In an interview with Motorindia, X-1R General Manager, Harold Ledda, said that India is the 89th country in which X-1R’s range of NASA-certified products are now available, and “maybe just the Indian market will have bigger sales than all the 88 countries combined, if we do it right. That’s how big the potential is.” (see the full interview below)
India’s passenger vehicle market expanded by 7.7% in 2015 and industry observers are expecting the automotive industry to grow by double digits in 2016: Nomura projected the Indian auto market to grow by 15.6%; Credit Suisse has an even more optimistic forecast of 20%; IHS Automotive predicts that light vehicle production (passenger and commercial) will increase by 9%, supported by 11% growth in domestic sales.
The sales of more than 3 million vehicles last year were dominated by a few brands, such as Hyundai Motor and Maruti Suzuki. This year’s sales are expected to be a more inclusive, as falling fuel prices, reduced interest rates and new models will improve consumer sentiments. Another important factor contributing to increasing vehicles sales is the nation now boasts a GDP growth of 7.5%, one of the fastest in the world. However, there could be a clampdown on diesel vehicles as the government move to combat air pollution, the scourge of most densely populated cities that worsens with development. Citizens of the country should be alarmed that the top four most polluted cities in the world, according to data collected by the World Health Organisation, are all in India.
As we’ve written before, economic and social development should take place alongside environmental preservation. As in other fast-growing automotive markets, X-1R Corporation is there to grow its business, but with a cause. The X-1R range of products is proven to keep vehicles in peak condition, thus minimising car emissions and optimising fuel consumption. With vehicle sales in India expected to grow by 4.7% this year, let’s hope that 3 million more vehicles are not 3 million more problems for the environment.