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: levels are as high as 400 units per 1,000 people. Hence, Indian manufacturers have huge opportunity that needs to be tapped and this will drive the growth of the industry,” says Majeed.
According to Majeed, the rising per capita income, that has brought a change in lifestyles, and lot of innovation in products would be the key to future growth. “Interestingly, the growth would not restrict to the entry-level vehicles, even top-end brands like premium and luxury cars would see a substantial growth as the disposable income goes up and the retention period of vehicles coming down to three to four years from five to six years earlier,” he says....
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