Pioneer, the well known car electronic manufacturer also fails to resist the buoyant India car market. In a strong desire to conquer the Indian car market, it is now venturing the market with its sales subsidiary targeting the growing purchasing power of Indian consumers.
At present the company is struggling with the tough times brought by the global recession. With its establishment in the country, it expects a strong growth potential.
India was the only country left from BRIC (Brazil, Russia, India, and China) where the manufacturer didn’t had its own sales unit. The company promises to start operations in the new subsidiary by January 2009. So, after that the company will start marketing a wide range of auto electronics including car audio system, security systems, car safety technologies, and electrical machinery index with full swing.
As Pioneer is not new to India, it can very well strengthen its foothold in the country.
How come Porsche can even think of foraying into the Indian market at this stage of time when recession has hit the car market from all sides?
The decision made by Pioneer is right. No doubt that Indian car market is badly affected by the global recession but still India is considered to be one of the most promising car markets. And how can you forget about the strong Indian economy, I am sure that this power will cushion the impact.
Dear Bansi, this is just to inform you that in this blog we are talking about Pioneer, leading manufacturer of car electronics, and not Porsche. Both are two different companies, one dealing in car electronics and the Porsche is a leading car manufacturer.