Maruti dominates India's automotive market as the tenth most valuable carmaker, surpassing international competitors like Stellantis. Tesla has made its entry into India with a new showroom in Mumbai amid increasing air pollution and local demand for electric vehicles. However, many Western brands have struggled to succeed, hampered by import tariffs and a competitive local market primarily focused on low-margin subcompacts. Currently, electric vehicles account for just 3% of car sales in India, indicating that while demand is increasing, the market is still in its early stages.
India's automotive market is dominated by Maruti, the world's tenth most valuable carmaker, which effectively outperforms U.S. giants like Stellantis.
Tesla has launched in India with a showroom in Mumbai, a significant milestone as the demand for EVs is on the rise in the country.
Despite the ambitions of foreign automakers, high import tariffs and fierce local competition have hindered their success in the Indian market.
Only 3% of cars sold in India in the first half of the year were fully electric, indicating that the EV segment is still nascent.
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