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The global economy is in constant flux and we are particularly seeing how the landscape of the automotive industry is rapidly changing and yesterday’s undisputed leaders are quickly
The world is global and car sales are never limited to one specific market. But surviving in an unforgiving and competitive environment requires constant demand across the planet. However, every business model has its drawbacks. The coronavirus dealt the first powerful blow to the supply chains of industrial production around the world, which then collapsed into the situation around Ukraine. That did not bring stability, and we have yet to feel the full severity of the consequences of this crisis. Including in the automotive industry.
And then it suddenly became clear that for many countries stable demand on the domestic market has become a lifeline in an incomprehensible and turbulent time. But sales in the domestic market depend not only on the financial situation. To give them access to purchase their cars, both the state and car manufacturers devise different incentive schemes in the form of the same loans and grants. But even in a very affluent society, it is difficult to expect good sales when the population is small.
In other words, the more people, the more stable local producers feel. Which ultimately gives them the opportunity to already actively develop and promote and export their products. And here we come to a curious moment. Now the success of the car industry in a financially stable country is almost directly related to the population. And this is confirmed by the experience of modern China. It is no coincidence that the country, with a growing economy and a huge population of 1.4 billion, became the largest car market in 2009, and already in 2010 – the world’s largest car manufacturer. Played both factors – demographics and economics.
But there are no eternal realms. And a simple question arises: who is next? Where will the seat of power of global mobility move? And judging by recent events, this is not the United States and not Europe. India seems to be the next candidate for world domination. This is evidenced by simple facts: more and more world brands are actively introduced to the country’s market, which the British could not plunder. In India, the assembly lines of most car brands are active. At the same time, they create special modifications of models for the local market. And this is important.
In addition, India became the most populous country in the world this year, even overtaking China. Now 1,427,084,972 people live there. Moreover, this goes hand in hand with rapid economic growth. In the 1st quarter of 2022, India symbolically overtook the UK with Rishi Sunak leading in terms of GDP to become the fifth largest economy in the world. But three years ago, the country didn’t even make the top ten. And if we talk about the volumes of auto markets in developed countries, they traditionally looked like this.
China ranked first with more than 25 million vehicles, followed by the United States with nearly 15 million vehicles, and Japan usually ranked third with about 4.2 million vehicles. But this year India broke through with sales of 4.25 million cars in the domestic market, pushing the Japanese out of the top three. And this is due in no small part to the huge number of solvent buyers. The AvtoVzglyad portal is curious when India will become the largest car market in the world and how soon will it become the largest car manufacturer too?
The world is global and car sales are never limited to one specific market. But surviving in an unforgiving and competitive environment requires constant demand across the planet. However, every business model has its drawbacks. The coronavirus dealt the first powerful blow to the supply chains of industrial production around the world, which then collapsed into the situation around Ukraine. That did not bring stability, and we have yet to feel the full severity of the consequences of this crisis. Including in the automotive industry.
And then it suddenly became clear that for many countries stable demand on the domestic market has become a lifeline in an incomprehensible and turbulent time. But sales in the domestic market depend not only on the financial situation. To give them access to purchase their cars, both the state and car manufacturers devise different incentive schemes in the form of the same loans and grants. But even in a very affluent society, it is difficult to expect good sales when the population is small.
In other words, the more people, the more stable local producers feel. Which ultimately gives them the opportunity to already actively develop and promote and export their products. And here we come to a curious moment. Now the success of the car industry in a financially stable country is almost directly related to the population. And this is confirmed by the experience of modern China. It is no coincidence that the country, with a growing economy and a huge population of 1.4 billion, became the largest car market in 2009, and already in 2010 – the world’s largest car manufacturer. Played both factors – demographics and economics.
But there are no eternal realms. And a simple question arises: who is next? Where will the seat of power of global mobility move? And judging by recent events, this is not the United States and not Europe. India seems to be the next candidate for world domination. This is evidenced by simple facts: more and more world brands are actively introduced to the country’s market, which the British could not plunder. In India, the assembly lines of most car brands are active. At the same time, they create special modifications of models for the local market. And this is important.
In addition, India became the most populous country in the world this year, even overtaking China. Now 1,427,084,972 people live there. Moreover, this goes hand in hand with rapid economic growth. In the 1st quarter of 2022, India symbolically overtook the UK with Rishi Sunak leading in terms of GDP to become the fifth largest economy in the world. But three years ago, the country didn’t even make the top ten. And if we talk about the volumes of auto markets in developed countries, they traditionally looked like this.
China ranked first with more than 25 million vehicles, followed by the United States with nearly 15 million vehicles, and Japan usually ranked third with about 4.2 million vehicles. But this year India broke through with sales of 4.25 million cars in the domestic market, pushing the Japanese out of the top three. And this is due in no small part to the huge number of solvent buyers. The AvtoVzglyad portal is curious when India will become the largest car market in the world and how soon will it become the largest car manufacturer too?
Source: Avto Vzglyad
Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.
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