In India, Tesla will find a market that appears to be rapidly growing but remains fairly small in comparison to markets such as the US and China. While 2016 sales haven't been tracked, 2015 sales rose about 10 percent from a year earlier to about 2 million, The Hindu reported last year. And while that was an annual record, it's a fraction of the 17-million-plus vehicles sold in the US and the 20-million-plus sold in China last year. Think of it as another California, only further away and probably with far fewer high-end electric-vehicle enthusiasts.
That said, there is a market for luxury vehicles in India that is far larger than other imminent Tesla markets such as South Korea, New Zealand, and the UAE. India's population of more than 1.2 billion people is almost four times the size of the US population. There are almost 100 models sold in India with list prices of at least 40 lakhs, or about $64,000, according to the website Carwale. Those range from the Mercedes-Benz C-Class, which sells for about $64,000, up to models such as the Porsche Panamera and Land Rover Discovery, which are listed at the equivalent of about $170,000. Figure the Tesla Model S to be closer to that figure.