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The Indian automobile industry is one of the largest sectors in India and a key contributor to the country’s economy. Factors like increasing purchasing power, new product launches, booming exports and easily available finances have resulted in increase in sale volumes in the sector. Production wise, the industry crossed the landmark of 10 million vehicles in 2006-07 and witnessed a CAGR of 15.5 per cent.
The industry is segmented into four categories: two wheelers which has a market share of 77%, passenger vehicles which covers 14% of the share, three wheeler segment which has 5% share and finally the commercial vehicle segment which captures 4% share of the market.
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