By Arjun Sen, IANS,
New Delhi, Sep 5 (IANS) By 2013, the global market share growth of India’s Tata brand cars will be the highest among all brands, says a study by leading global market intelligence firm US-based Global Insight.
The study prepared for the Indian automotive industry lobby Society of Indian Automobile Manufacturers (SIAM) says that by 2013, Tata brand light vehicles will double their global market share from 0.6 percent now to 1.2 percent – a gain of 0.6 percent.
The second fastest growing car brand will be the Chinese brand Chery, the market share of which will grow from 0.6 percent – the same as that of the Tata brand now – to 1 percent by 2013.
India’s Maruti brand too will see an increase in its global market share from 1 percent now to 1.1 percent by 2013.
Apart from the Indian brand Tata and the Chinese brand Chery, the other brand that will see a big rise in market share is the French Renault. It is predicted to gain 0.3 percent share from 3.1 percent now to 3.4 percent by 2013.
The other gaining brands are the Japanese brand Nissan, German brands BMW and Audi, Japanese brand Mitsubishi, Czech brand Skoda and Chinese brand Wuling.
All these brands will gain 0.1 percent market share by 2013, the study forecasts.
Out of 26 brands studied, 13 brands will lose market share while 10 brands will gain.
For three brands – Japanese brand Honda, German brand Mercedes-Benz and US brand Dodge – the market share will remain the same, the study forecasts.
The worst hit among the declining brands will be the US brand Ford. Its market share will decline from 7.1 percent now to 6.4 percent – a loss of 0.7 percent. This represents the maximum change either way – loss or gain.
The next worst hit will be the French brand Peugeot. Its market share will go down to 2.5 percent from 2.9 percent now, the study says.
The other brands that will see big declines in market share will be the Japanese brand Daihatsu – its market share is forecast to go down to 0.9 percent from 1.2 percent now and the Russian brand Lada – its share will decline to 0.9 percent from 1.1 percent now.
The losing brands apart from Ford, Peugeot and Daihatsu will be Japanese Toyota, US’s Chevrolet, Germany’s Volkswagen, South Korean Hyundai, Italian brand Fiat, South Korean brand Kia, Japanese brands Suzuki and Mazda and US brand Opel.
“Global Insight projects that world light vehicle sales will rise 19.3 percent between 2008 and 2013 to over 84.1 million units,” the study says.
“Sales growth in Asia will account for 51 percent of world growth. By 2013 one in three light vehicle sales will be made within Asia,” the study forecasts.
The study was released here Thursday at the 42nd Annual Convention of SIAM.
Global Insight is widely recognized as the most consistently accurate forecasting company. It has over 3,800 clients in industry, finance, and government with revenues in excess of $100 million (Rs.4.5 billion).
It has 700 employees and 25 offices in 14 countries covering North and South America, Europe, Africa, the Middle East, and Asia.