Taxi market to account for 15-17 per cent of Indian PV market by 2020

Publication: The Economic Times,

MUMBAI: Taxi market has gained prominence over last 2-3 years, in the backdrop of entry of app based aggregators which has not only disrupted auto-rickshaw and traditional taxi market but also forced automotive OEMs to revise their growth and marketing strategies.

A report released by ICRA stated that the Indian passenger vehicle industry is likely to ride on the strong growth potential of domestic taxi segment in the near term, whereas medium to long term growth will be be supported by low car penetration level and increasing income level.

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