The Indian car market has seen an explosion in interest in sporty sports cars in recent years, and the popularity of such vehicles has increased the interest of car manufacturers.
According to a new report from IHS Automotive, the market for sporty cars is expected to increase to USD 6.3 trillion by 2021.
The report, based on data from the National Automobile Dealers Association, estimates that by 2020, sporty car sales are expected to be worth USD 4.5 trillion.
The report also states that by 2021, sportier car sales could reach USD 15 trillion.
This would be more than double the value of the Indian economy.
The growth of sporty sales is being driven by the increasing popularity of the Japanese model, the Subaru WRX STI, and a new generation of luxury sporty models from the likes of Audi and Mercedes-Benz.
The growth of the sporty market is likely to be driven by demand for sportier cars and a growing preference for such cars, which are priced at over $40,000.
IHS estimates that the number of sports cars sold in India is set to increase from just over 1,500 in 2014 to nearly 7,000 in 2021.
This is expected increase in the value-added market by nearly 50 per cent, to USD 3.2 trillion.
By 2021, India will also see the growth of a growing number of luxury sports cars.
I am not sure if the new breed of luxury models are the result of a combination of the growing interest in sports cars and the growing appetite for the likes, but we shall see.