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Indian car market may post record 30% growth in 2021 on low base

Indian car market may post record 30% growth in 2021 on low base
Indian car market may post record 30% growth in 2021 on low base
One of the key demand drivers will be new launches. Vehicle makers are expected to launch 56 products in 2021, topping last year’s 54 launches.

Synopsis

A laggard among the top 10 global passenger vehicle markets in 2020 after one of the most stringent and prolonged lockdowns in the world to contain Covid-19, India is expected to be among the fastest growing this year, probably only next to the US.

Mumbai/New Delhi: Growth in Indian’s passenger vehicle market could outpace all previous records in 2021, forecast analysts, citing a very low base after two years of double-digit decline and sustained pent-up demand.A laggard among the top 10 global passenger vehicle markets in 2020 after one of the most stringent and prolonged lockdowns in the world to contain Covid-19, India is expected to be among the fastest growing this year, probably only
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