Auto sector hopeful of better year ahead

Auto sector hopeful of better year aheadThe Indian auto sector will remember 2011 as the year of prolonged strikes and falling sales and is thus looking at 2012 with optimism and hopes for better times.

Car sales in the country have fallen mainly due to high interest rates on financing and increasing prices of fuel. The country's largest auto maker, Maruti Suzuki experienced a steel fall in production while General Motors and MRF found themselves in other issues.

The auto sector would like to forget all that and begin the year with a bang at the upcoming Delhi Auto Show 2012, the largest auto event in the country. Auto Expo 2012 is scheduled to be organized from 5 to 11 January at Pragati Maidan, in Delhi.

The largest automotive show in India will see a significantly enlarged participation from international players. There are huge consignments from German and Chinese auto makers from the international market while Indian manufacturers have enthusiastically booked up space.

International players are increasingly looking at the Indian market because it is one of the very few markets offering growth prospects compared to the stagnated markets in the developed world. Indian market also has a huge potential for growth in the coming years as the car ownership is still low in Asia's third largest economy.