Indian Automotive Consumer Sentiment – Happy Tidings Ahead: Survey
Though the auto industry was heavily impacted due to the economic slowdown earlier and the Corona virus pandemic now, the results of the survey on Indian consumer sentiments would bring some cheer on the automakers’ faces.
As per the survey, at least 40% of Indian Purchase intenders said they are more likely to buy either a new or a used car as they feel this is a safer option to travel. Around 31% of the respondents said their earlier decision on purchasing a car would remain unchanged due to the pandemic, and would go ahead as planned earlier. The other 29% respondents said they are less likely to purchase one as they have other priorities to fulfill.
The survey agency also stated that it found similar sentiments in China, whereas people were less likely to buy a car in Brazil, Italy and Spain. In countries like the US, Germany, UK and France, the sentiment of purchasing a car remained same as before.
In India, among the respondents who wanted to buy a new car, at least 55% felt more protected in their own personal vehicle than using a public transport.
(Article is written by Karthick. He is an auto enthusiast, and an engineer by profession, currently employed in an auto MNC at Chennai; has a craving on new tech and a particular interest on the Indian automotive market.)