Indian Car Audio Market Booming

Emerging Markets Economy, Jan 20, 2004

With the surge in passenger car sales and the entry of private FM radio stations, the Indian car audio market is booming.

Industry feedback suggests that this year, the vast unorganized sector has shrunk for the first time due to falling import duties and aggressive marketing by the car audio equipment manufacturers.

This year, the overall industry is expected to register a 7.5 percent growth, of which the organised sector's share will be in double digits. Even though MP3 compatibility products is the rage these days, the basic AM/FM radio receiver and cassette player still account for 90 percent of the overall sales.