Booming Car sales

China and India are zooming ahead to having the largest number of Car owners, HT reports. Most consumers in India and China are now graduating from Two wheelers to buying Four wheelers.

Nine per cent of Indians and six per cent of Chinese aged 18 and above now own a car, making them the 11th and 12th highest-ranking countries worldwide for car sales.
However, the level of car ownership in the two countries is way behind the US where 89 per cent own a car, Britain where 80 per cent own a car and Germany where 76 per cent own a car, found the Nielsen Company market research group.

The Asia-Pacific region's top country for car ownership is New Zealand where 82 per cent own a car followed by South Korea at 74 per cent, Australia at 70 per cent, Malaysia at 67 per cent and Taiwan at 66 per cent.

The world's fastest growing car markets are China and India, and car manufacturers invested $1.85 billion on marketing in China in 2006, nearly half the region's total car advertising spending.


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