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22/02/2012
The proliferation of cars in India has traditionally been quite low - currently, only 10 in 1,000 owns a car - but the strengthening of the nation's economy and a renewed emphasis on infrastructure has placed the market on a steady path of growth.
According to a report featured in the Telegraph, 2.5 million cars found new owners in 2011 and experts expect this figure to grow to 3 million annually by 2015. One group poised to profit greatly from this new-found interest in motoring is British carmakers.
Jaguar Land Rover, now part of Indian firm Tata Motors, posted record pre-tax profits of £559 million in the third quarter of 2011 thanks in part to Indian sales, and Mini plans to bring its vehicles to the subcontinent as well.
According to Benjamin Negal, who will be at the helm of Mini's Indian operations, the British brands could be a big hit.
"Many people in India have heard of the Mini but they have not been able to buy one before. They know it comes from Britain and see that as a good thing," he told the Telegraph.
Negal said British cars also appeal to motorists looking for a premium experience.
"There is still some educating to do in terms of what Mini is all about. Premium cars are perceived as large here, but there is no direct competition in the segment - there is no Audi A1 or Mercedes A-class," he said.
The sales of such premium cars could in turn drive other parts of the Indian economy as well, as motorists turn to financial organisations to take out car insurance policies.
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