| | 2009: Indian auto industry in top gear despite global gloom
Even as global auto majors went into reverse gear in 2009, the Indian industry largely bucked the trend, launching new models for the domestic market and registering significant growth in exports.
The year saw the commercial rollout of the world's cheapest car, Tata Nano, as also some expensive models like the Rs 37.5-million (about $750,000) Phantom and the Rs 25-million ($250,000) Ghost (both from Rolls Royce), apart from Volkswagen's famed Beetle, priced at Rs 2 million ($40,000).
During the year, the overall car market grew around 15 percent over 2008, and a similar pattern is expected in 2010, experts maintain. According to Neeraj Garg, Volkswagen India group sales director: "Car manufacturers are betting on hatchbacks in the B+ segment. We expect the segment to constitute nearly 75 percent of volumes in the coming years."
Source: Business Line