MARKET * India
* Auto majors line up new luxury bus models - SIAM expects the super-luxury bus market to grow five-fold in the next 3 years.
New Delhi,India -The Business Standard, by Chanchal Pal Chauhan -April 6, 2007: -- The Society of Indian Automobile Manufacturers (SIAM) expects the super luxury bus market to grow five-fold to over 8,000 units in the next three years, with demand from fleet operators, airlines (for use on airport tarmacs) and tourist operators expected to soar... The market for luxury buses, currently dominated by Volvo, will soon have half a dozen new entrants including leading automakers such as DaimlerChrylser India, Swaraj Mazda, Ashok Leyland, Scania and Force-MAN Motors Limited, who will be vying for a share of this niche segment... Growing at 25 per cent annually, the luxury bus segment is dominated by Swedish major Volvo India Ltd, with an 80 per cent share. The remainder of the 1,400-unit market for these buses— priced at Rs 40-70 lakh— is dominated by Tata Motors. However, it is the new entrants who are likely to fuel growth through new and innovative products... Like China, where the phenomenal demand for luxury buses took the annual market from 10,000 units to over 28,000 units per annum in five years, India is expecting a similar boom...
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