SURVEY : 57% Indians Willing to Purchase Car in 2020
The coronavirus outbreak that started in December is still in effect with over 58.2 lakh cases worldwide, the world has gone under lockdown for an indeterminate period of time. The virus has changed our lives completely. Social gatherings, travelling and even going out for a meal has become a risky affair. The lockdown followed after the virus has also changed our lifestyle, making family the priority, highlighting our basic necessities and finally understanding how ‘less is more’. It also changed our ways of approach, walking became a better option than travelling by public transport, opting for a healthy diet over catering to our taste buds and staying home instead of going out. Our lives have changed completely compared to before.
The changes post COVID-19
The COVID19 didn’t just change our habits and attacked our physical fitness, it also slowed down the world economy. With the virus, lockdown was mandatory. Social distancing is key in our battle with coronavirus but the much needed lockdown broke the economy of all countries. With people losing their jobs, companies shutting down and decrease in income, needs are becoming much more important than luxuries.
With social distancing becoming the new norm, a new survey by CAPGEMINI shows that around 57% of Indian consumers are looking to buy a new car post lockdown. Cabs and other public transports pose a risk of infection hence owning a private vehicle seems like the practical way to go.
The automobile industry has been struggling for almost 2 years but the post lockdown statistics are expected to show a huge rise in sales. With reduced income, the population of India is expected to opt for the entry level hatchbacks more than the higher level models. Family cars are expected to be popular again compared to the premium SUVs.
The survey which was held in countries with over thousands consumers shows that 35% customers will be buying a private vehicle in 2020. Indian consumers stood at 57% stating that opting for a public transport may be a safety hazard. Many of the carmakers have realized this opportunity and have ramped up the production.
Buying Car Online:
With limited contact, people now opt for working from home, maintain social distancing and shop online. The case will be true for car sales in coming years as well. More and more people will opt to buy a car online instead of going to the showroom. Almost all industries are moving towards the online platform and the automobile industry is no exception. With most brands launching their new cars online instead of waiting for the pandemic to end goes to show that the industry will be moving towards online platforms more. A lot of online platforms now offer a seamless, end-to-end experience. From online booking, to loan facilitation to contactless home delivery, the online car market offers buying cars from the safety of their homes.
Visiting a dealership may also pose unnecessary safety hazards and the survey shows that 70% of the participants would avoid visiting a dealership while buying a car. The survey also highlights that 44% of participants will use their car more often compared to public transport. 40% consumers also say they will rather not use ride sharing or ride hailing services.
Amongst the potential buyers, 66 % will opt for health and wellness features, such as air conditioning with germ filters and 59% are also willing to pay a premium for health and wellness features.
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