Gone are the times when cars from a particular segment were available within a set price range. Nowadays, car makers are not limiting their models line based on the pricing, wherein a segment is notified by a specific price bracket. The Indian car market, including producers and consumers, has a much broader perspective in terms of vehicles. A lot of international manufacturers have entered the Indian automotive industry, thereby giving customers a wide range of vehicles, belonging to multiple segments, to choose from. To put things in a perspective, buyers can now get vehicles belonging to different segments at the same price.
It can be noted that a number of cars from a lower segment are priced more than a car belonging to a higher segment. For instance, there are a few hatchbacks in the market that are more expensive than, say, a compact Sports Utility Vehicle (SUV). This can be attributed to a number of reasons, such as local manufacturing of foreign cars and the inclusion of premium features in vehicles of lower segment. Honda Jazz, a hatchback from the Japanese auto maker, had a lot of features, which made it more expensive than some compact SUVs or sedans.
A lot of international firms that sell cars in the Indian market have opened their manufacturing units in India, which automatically reduces the cost and thereby, the pricing. This also results in them being able to price cars at a lower rate without compromising on their features. There are a lot of cars available at a price of Rs. 5.99 lakh in the Indian car market. Interestingly, customers can purchase a hatchback, a compact sedan or a compact SUV, all at the price of Rs. 5.99 lakh.
The Honda Amaze, a compact sedan, has enjoyed a lot of success in the Indian car market, owing to affordability, performance and fuel efficiency. It is powered by the Earth Dreams diesel technology, one of the most successful accomplishments of Honda in recent years. The Amaze comes in both petrol and diesel variants with the petrol version priced lower than the diesel one. Along with the Honda Amaze, popular car maker Maruti Suzuki's Swift DZire, also available at the same price, has done quite well in the market.
Hyundai i20 is a premium hatchback that falls in the price bracket of Rs. 5.99 lakh, which has been a hit among Indian car buyers. Both petrol and diesel variants of the i20 are available in market. Fuel efficiency, acceleration and stylish looks are the main reasons why the i20 has been a successful venture for the South Korean multinational auto maker. Another hatchback in the Rs. 5.99 lakh range is the new Micra from Nissan, which was been launched recently. However, it remains to be seen how this car will fair in the market, given the tough competition it has got.
Coming to compact SUVs, the recently launched Ford EcoSport falls in the same price bracket and has generated a lot of buzz among buyers and critics alike. With fantastic exteriors, good fuel efficiency and a good on-road presence, the EcoSport has received massive bookings and is slated to perform really well in India. Along with the Ford EcoSport, the Premier Rio is another fuel efficient SUV present in the Indian market at a price of Rs. 5.99 lakh. The Rio has, however, failed to reproduce the buzz generated by the Ford EcoSport and has had lukewarm success in the Indian auto market.