As India is a developing country, millions of Indians even today can not afford the basic necessities of life. The distribution of wealth is uneven in the country. Most of Indians still do not own any car. The economic development taking place in the country is happening due to the economic reform initiatives taken by the government. Now a days India is considered a very attractive destination for any foreign company. The growing purchasing power of the Indian middle class is very much attractive for multinational companies. The huge domestic market offers so many opportunities for any business. Now most of the big companies of the world are operating in the country.
The economic liberalization has been a boon for the domestic car market. Consumers are now having lots of options when earlier they used to have just a couple of cars to choose from. All major car companies are now operating in India. India's cheap labor cost is also attracting auto companies to establish their factories here. Now many companies manufacture cars from their Indian factories.
Foreign car companies operating in India include Toyota, Honda, Mercedes-Benz, Ford, Hyundai, etc. Among them Hyundai has been the most successful in India. It has some great selling cars like Santro and i10 in the Indian market. The world's largest car maker Toyota is also successful in India with its good selling SUV Innova. The company's latest offering Fortuner has seen success from the day one. The car's initial booking surpassed company's expectations.
Honda has also seen great success in the Indian market. The company offers many models for the Indian consumers including City, Civic, Jazz, Accord and CR-V. Honda has seen great success with its Honda City model. The car is successful due to its luxury, economy, brand image and customer experience.
Author writes content about new cars, used cars like Honda City. He provides detailed step by step guide about buy/sell new and used cars in India.
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→Growing Car Market and Honda City in India
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