The launch of new passenger car models, India emerging as a major hub for small car manufacturing and the rising per capita income are some of the key reasons for the growth of this market.
The unorganised sector accounts for nearly 60 per cent of the total car accessory market.
Entertainment (purchase of head units, speakers, amplifiers, sub-woofers and so on) is the biggest revenue earner for players in the segment.Consumers generally spend close to 3-4 per cent of the car value on car accessories.
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