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Increase in Automobile Demand During Festive Season

30 percent of respondents are considering buying a new or a second-hand vehicle

More people are considering buying personal vehicles in the ongoing festive season, according to a recent survey.

A consumer mobility study by PAYBACK and its digital research partner, Unomer revealed that nearly 30 percent of respondents from south and north India are considering buying a new or a second-hand vehicle this festive season.

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Across the regions, western India shows the lowest preference with two-thirds of respondents having no plans to purchase a vehicle this year.

As per the report, a positive bias for purchase is coming primarily from two key factors. The first factor is personal mobility for work or personal use owing to safety or an additional vehicle for a family member and the second is the offers and discounts provided by carmakers leading to lower cost of ownership.

Automobile
In the two-wheeler segment, motorcycles were the top choice at 25 percent preference, ahead of scooters. Unsplash

Amongst vehicle categories, SUVs and Compact SUVs are the most popular choice in the four-wheeler segment with one-third of consumers opting for the same, followed by sedans (21 percent) and hatchbacks (18 percent) across age groups and incomes.

In the two-wheeler segment, motorcycles were the top choice at 25 percent preference, ahead of scooters.

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Further, post-Covid there is a growing preference for sustainable choices, and the same is reflected in the strengthened voice for green fuel, as the survey states more than 10 percent show a preference for electric-powered vehicles instead of CNG (4 percent), as the future alternate to petrol. (IANS)

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