Rising Indian diesel sales echo global trend 19th July 2004
Indian diesel sales are set to soar, as the growing global popularity of the fuel continues.
Industry observers in India say the market is poised for growth that could see a 50 per cent rise in sales by 2010.
A leading official from Mico - one of the top auto component manufacturers - told Sify that the current diesel share is around 31 per cent - which could rise to 45 per cent within the next six years.
"We foresee, with current market trends in India and globally, a diesel share of around 45 per cent in 2010 in the cars and multi-utility vehicle segment," the official commented.
It is a trend backed by other analysts and industry players in the region, as Tata Motors vice president Rajiv Dube explained.
"We will see a huge demand for diesel cars in India soon," he explained. "Even though diesel carries a price advantage, its engine is more fuel efficient and more environment friendly."
India is benefiting from the global trends that have seen diesel sales rise in a number of regions, as stricter emission rules and incentives have helped bolster the market.
According to a recent JD Power report, global diesel light vehicle sales will increase from 12.5 million in 2003 to 27 million by 2015, with India one of the key Asian markets for this trend. Europe will see its share grow from 46 per cent to 55 per cent by 2010.
Diesel cars use platinum catalysts to control harmful exhaust emissions.
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