India One Among the Top 5 Markets for Japanese Auto Majors

BENGALURU: India never disappoints Global Auto makers and same is the case with Japan who is one of India’s Prominent Player in the Auto Industry. Having said that, in the latest report India once again proved its worth for Japan, as it ranked among the top five markets for Japanese auto majors—reported by TOI.

The reasons why Japanese units are a hit in India is pretty much obvious. The size and composition of Indian populace, which includes a majority of middle and upper middle-class section is an important factor that contributed to Japanese automobile industry the most.

Also as we see it, Maruti Suzuki has been topping the Suzuki’s global markets both in terms of volumes as well as revenues. Besides Suzuki, other Japanese biggies like Yamaha, Toyota and Honda in India have been pecking the revenues from the country.

Thanks to the good growth run and constant rise in buying behavior for the past two years which accelerated the revenues for almost all the major Japanese automobile industries.

Jnaneswar Sen, Senior Vice-President, Marketing & Sales, Honda Cars India said, "India ranks after the top three markets of U.S., China and Japan globally thanks to our good growth run for the past two years. HCI clocked 41percent growth 2014-15 selling 1.89 lakh units up from 1.34 lakh units the year before. Honda's top-gear run has prompted the Japanese car maker to expand capacity at its second plant in Rajasthan from 1.2 lakh units to 1.8 lakh units. "Our target is to sell 3 lakh units in India by 2016-17."

Moving on to Yamaha and Toyota Kirloskar, Thailand, Indonesia and India comprise the ‘Troika’ of the ‘significant markets in India.’ This growth is not just applied to the good old industries but also to the new comers like Nissan, to which India is the largest hub of investments especially due to the Renault-Nissan Alliance. Arun Malhotra, MD Nissan India said that “our manufacturing facility is the largest that the Alliance has developed so far across the world with a production capacity 480,000 units. India is the first, among other growth markets across the world where Datsun made a world debut."

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