Instead, sales have stagnated at about 3 million cars. and even Germany’s Volkswagen AG each hold less than 1 percent of a car market once forecast to be the third largest by 2020, after China and the United States, with annual sales of 5 million units. in closing factories in the country.Īmong foreigners that remain, Japan’s Nissan Motor Co. Last week, Ford took a $2 billion hit to stop making cars in India, following compatriots General Motors and Harley-Davidson Inc. Rising disposable income would help foreign carmakers to a market share of as much as 10 percent, forecasters said. The economy had been liberalized in 1991, the government was welcoming investors, and the middle class was expected to fuel a consumption frenzy. carmakers believed they were buying into a boom - the next China. built its first factory in India in the mid-1990s, U.S.
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