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Q: How many new cars were manufactured last year?
Clarifying questions:
1. Which demographic should we consider? I would like to consider India.
A. Okay, You can consider India.
2. We are not looking for toy cars, but real on-road cars right?
A. Yeah
Assumptions:
The population of India: 1.2B
Neglecting the imported cars.
Neglecting the exported parts to the other countries
To know the no of cars that were manufactured, let's first understand the demand for cars every year.
Considering 3 per family - 0.4B Families
Dividing the population according to the income
| %Of families show Interest to buy a car | Car Potential Market (Every Year) | |
| High Income - 10% | 5% | 2M |
| Middle Income - 40% | 3% | 4.8M |
| Upper Middle Class - 30% | 3% | 3.6M |
| Lower Income -20% | 1% | 0.8M |
Car Potential Market - 11M
Distribution of Sales can be 80% old cars + 20% newly manufactured cars
= 0.2*11 = 2.2M = 22,00,000 new cars manufactured in India last year.
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