The ascendency of India as an economic world power

India has now one of the fastest growing car markets in the world. The continuous high economic growth in the country is helping the car market to flourish. SO, I am not surprised that Maruti Udyog Ltd had enormous increase in car sales in June 2007 in Indian market. In fact, the sale in increase was nearly 24%. It is really very imporessive and shows that there is still enough room in Indian car market.

Reuters reported:

India's top car maker, Maruti Udyog Ltd. (MRTI.BO: Quote, Profile, Research), on Monday reported a 23.7 percent rise in its June sales, boosting its shares by as much as 6.1 percent to their highest since June 6. Maruti, 54.2 percent-owned by Japan's Suzuki Motor Corp. (7269.T: Quote, Profile, Research), sold 59,917 vehicles in June. It sold 56,000 units in the domestic market, up 25.5 percent from a year earlier.

The biggest gain came in the A3, or mid-size, segment where Maruti's newly launched SX4 premium sedan helped contribute to a 46.4 percent rise in monthly sales to 3,923 units.

Maruti is so successful because it could address the inexpensive segment of the car market in India. This is the thing that other car companies in India can learn from Maruti. They should spend money for bringing out inexpensive cars and they would see similar success like Maruti.