Rush of Sports Utility Vehicle in Indian Market
Indian market, the world’s fastest growing auto market after China is all set to witness the chain of sports utility vehicle. In the next six months some of the world’s top carmakers such as Audi, BMW, Land Rover, Toyota and Volkswagen are coming up with over half-a-dozen SUVs in the market. Automakers have intended to manufacture most of the new products locally to reduce cost, rather than relying on imports. The global recession has forced these automakers to turn their attention towards the fast growing emerging economies and above that SUVs comprise a niche segment in the Indian market irrespective of the higher prices.
Indian market, the world’s fastest growing auto market after China is all set to witness the chain of sports utility vehicle. In the next six months some of the world’s top carmakers such as Audi, BMW, Land Rover, Toyota and Volkswagen are coming up with over half-a-dozen SUVs in the market.
Automakers have intended to manufacture most of the new products locally to reduce cost, rather than relying on imports. The global recession has forced these automakers to turn their attention towards the fast growing emerging economies and above that SUVs comprise a niche segment in the Indian market irrespective of the higher prices.
BMW has unveiled its flagship SUV model X6M with a price tag of Rs 1.3 crore (ex-showroom Delhi) and has intended to capture market share in the segment. At the auto expo, BMW India had brought their entire SUV portfolio and the company believed that SUV’s sales will double after the launch of compact SUV X1 by 2010. The company will start assembling the X1, the cheapest SUV from BMW priced at around Rs 25 lakhs, at its Chennai plant in the next few months.
Another carmaker Audi would commence local production of compact Q5 very soon. It will also bring its most powerful SUV, the V8 4.2 Litre Q7, in limited numbers. Europe’s largest carmaker Volkswagen has also brought its SUV into India with the price tag of Rs 60 lakh and it also has plans to bring its smaller version Tiguan soon.
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