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Market facts
Automobile Industry
- Annual turnover, € 24 Mn (INR 1300 Mn)
- Industry currently growing at 19%
- Total no of manufacturers: 14
Industry growth drivers
- Increasing disposable income with the service sector
- Replacement of aging four wheelers
- Reduction on duty of compact cars likely to boost the demand for cars
- Increasing trend to buy multi utility vehicles as a second vehicle
- Global OEMs to make India a small car manufacturing hub for exports 100% foreign direct investment allowed
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