India is among the few markets in the world where automobile industry is growing at a steady pace. However, the last quarter of FY 17-18 hasn't been all rosy with rising fuel price and hike in the interest rate taking the blame.
While choosing a car the most prominent ask for an average Indian buyer is – 'good mileage'; engine power and other features carry far less importance. The iconic advertisement campaign carried by Maruti Suzuki– “Kitna Deti Hain” summed up this very-Indian mentality, beautifully. An earlier survey by Ford showed that about 6 out of 10 car buyers in India want cars which are fuel efficient.
A rather significant Indian characteristic about car purchase has been their love for size. Indians do love their cars bigger; especially in the passenger vehicle market. Be it M&M's XUV 500 or Toyota's Fortuner; both got launched in 2014, Indian car lovers made sure that there were long wait-lists at the dealers. More expensive SUVs manufacturers, likes of BMW or Audi too often face healthy backlogs of customer orders. At present, SUVs and MPVs (Multi-purpose vehicles) account for roughly 26% (as on 2016-17 data) of the automobile market.
The average age of first time car buyers is coming down every year. They are becoming more and more aspirational and experimental. Young car buyers are price sensitive but also perceptive about design and features. If we are to categorize this segment as per their buying habits; they are more of adrenaline rush rather than seeking stability or mileage.
Another pretty interesting characteristic of Indian car buyers is making their purchase decisions based on 'digital research'. An earlier study of cardekho.com revealed that about 75% of Indians buyers search online sites before making their purchasing decision.
Automatic car segment is getting hugely popular in India. This segment is equally popular among both men and women drivers. However, in India, women drivers account for far less car sales as compared to men. A generic study discloses that women drivers normally worry about flat tires the most.Authored: 9amstories editorial
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