30 June 2009;dailypioneer.com:New Delhi: Passenger vehicle sales are expected to nearly double by 2014 from the current 18.9 lakh units, mainly driven by anticipated economic growth fuelling the aspirational lifestyles of consumers. According to global consultant Ernst & Young (E&Y), the total sales of passenger vehicles are expected to touch 37.5 lakh units within next five years witnessing an annual growth of 12 per cent. While domestic market is expected to contribute 27.5 lakh units to the total tally, the remaining would come from exports, an E&Y report said. “Economic growth, the main drivers for the growth in domestic market, supported by Government in the form of reduced excise duties, concessions on cleaner fuels and the ongoing improvement in highways,” it added.
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