Indian Auto Consumer cares about price and fuel economy
A study by the J D Power Asia Pacific 2005 India Escaped Shopper Study has confirmed what the market apparently always knew. Indian consumer is very cost conscious and price of the vehicle and its fuel economy are some of the top priority for him. In addition, nearly two out of five of new-vehicle buyers consider at least one other model before purchasing their vehicle. This means, most have no definite choice of buying a particular model while buying an automobile.
The study studied the reasons behind why buyers initially consider a vehicle, but ultimately reject it in favor of a competitive product. They also gauged shopper perceptions of vehicle deficiencies and efficiencies when compared to the competition. First time buyers are more likely to buy either a Maruti Suzuki or Hyundai car considering they are the dominating players in the small car segment.
However, buyers of mid-size and premium mid-size cars are more considerate about the brands they buy and consider more than just a couple of car models from the range available to them. The initial costing of the vehicle is the top priority followed by the modelâ€™s fuel efficiency. Mohit Arora, India Director at J D Power Asia Pacific, said in a statement: “Vehicle affordability, both in terms of initial and running cost, is a key consideration for the new-vehicle buyer in India.â€