As India continues its rather fast paced rise to the status of major global power, the nation’s auto industry has been posting huge gains. May 2010 has been a particularly strong month for growth in nation’s vehicle market as it is now the 3rd largest auto market in all of the Asian continent. Even recent increases in overall price have done very little to dampen sales and neither has the withdrawal of efforts from the government to stimulate the industry back to health after the global recession which began in late 2008. Tata Motors Ltd., the largest truck maker and third largest car maker in India, posted sales of nearly 56,000 vehicles both in India and elsewhere in the world in May alone. This bodes quite will for the company and in comparison with May of 2009 is a 41% increase, something many auto makers around the world have proven to have trouble approaching in terms of their own sales in the current economic state.
In comparison with a year ago, exports from India have also jumped dramatically from just over 1,800 vehicles to just under 4,000. These figures prove that India is a rising star in the auto world and if analysts are shown to be correct, will become a major player in the future not only in Asia, but parts of Europe, Canada and the United States. Tata has not only been doing well in terms of sales of its trucks and buses, but also Nano cars which are very small and have accounted for over 3,500 of its May sales as consumers have shown favor towards more eco friendly vehicles.
