India recently posted its highest ever car sales figure in the decade. China, the world’s largest automotive market, increased its car sales by a third. Yet, both these economies fall abysmally short in terms of comparison of vehicle ownership per 1,000 people. As today’s chart shows, the fastest growing economies like India and China are way behind their Western peers in terms of vehicle penetration. No wonder the carmakers world over are enticed by the opportunity that these markets present.
Source: Equity Master