Indian’s are known to be tough driven customers across diverse product segments. We are also known to drive a hard-bargain before taking pride in our new purchase. Owing to increased media awareness, a recent report mentioned on Escaped Shopper StudySM (ESS) conducted by JD Power Asia Pacific states that first time buyers in the country are analyzing more vehicle options in the market before settling on a good deal. The trend has reportedly drastically changed from an era when only two-three cars could be compared before settling for one.
The 2014 ESS report that is based on 8,499 buyers and 3,448 rejecters responses for new cars. The responses received were fro vehicles purchased between - September 2013 to April 2014. As per reports, the new-vehicle shoppers in the country have rejected certain models in favor of another vehicle. About 27% of first-time new-vehicle buyers in country have considered a model other than the one that they had purchased while shopping in 2014, which is up from 64% in 2012. The easy availability of new car loan has also eased in the comparison to old times. The report also indicates that about, 35% of first time car buyers in the country have a household income of over Rs. 50,000 this factor has also raised by 18% in comparison to 2012.
The report also states that back in 2012 when only 26% of new car buyers researched on the new vehicle, this year the ratio has risen to 35%. Buyers are now keener on value for money deals by understanding new features in the interior, safety and reliability. Customer service parameter is also given much importance by first time buyers in the country.
