new delhi india is poised to emerge as fourthlargest light vehicle market in the world by 2014 riding on lowcost cars according to a survey and a double digit demand growth will push india ahead of countries like germany russia and brazil it addedsales of light vehicles or those below 35tonne gvw gross vehicle weight would experience a 16 compound annual growth rate till 2014 on the back of new launches particularly in the mini car like tata nano segment said usbased automotive market forecasting firm csm worldwidelight vehicle sales are expected to reach 45 million units by 2014 making india the fourth largest market in the world the mini car segment is likely to remain a dominant one with the launch of nano and other lowcost cars from renaultnissan and hyundai csms global vehicle forecasts vp michael robinet told toi he said the rise in demand for lowcost cars might also hit the twowheeler sales csm also said tata would challenge maruti suzuki for market leadership when it brings 2500 nanoaccording to csm india was ranked tenth in terms of light vehicle sales in 2007 which stood at 17 million units while us topped the list with 16 million units others ahead of india in 2007 included china 7 million japan 5 million germany 34 million and italy 27 millionby 2014 while india will be able to reach the fourth position us would continue to lead with sales of 18 million light vehicles to be followed by china with 115 million and japan with 5 million units csm said pointing out the reasons for slower growth in other markets neeraj bandhu from csm south asia said many of them are already saturated they will not experience the population or economic growth witnessed in india bandhu saida contributing factor for growth in the lowcost cars would be the lower excise duty which is 12 compared to the 24 for larger vehicles diesel engines will gain market share as new technology is adopted to take advantage of indias high price differential for diesel fuel bandhu said