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India’s Automobile Market size to get tripled by 2020- JD Power

Though car sales in the country is at present witnessing a decline, J D Power, a global marketing information services company, still believes that India’s automobile market size will be triple from the present size and will count to around 9.3 million units by the coming 2020.

According to data presented by the market research company, the demand for automobiles will automatically increase with an increase in the number of people with disposable incomes and the automobile sector during this period will also grow with a 16 per cent growth rate compounded annually.

Geoff Broderick, Vice President and General Manger J D Power Asia Pacific Group, said that India’s auto market may not witness a sudden and rapid growth as marked in China, but it will surely have a gradual and at the same time consistent growth and will be triple its present size by 2020.


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