Faced with growing competition from global automotive companies, domestic auto-makers are furiously patenting their technology as a way of defending themselves against the competition.
Consumers buying vehicles in exchange for old ones in the used car market (1.1 million cars) prefer to stick to small cars in the A compact segment rather than moving up to bigger mid-sized cars.
With interest rates on car loans adversely impacting domestic sales, many companies are aggressively pushing up their export targets, especially with India becoming a small car hub.
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