Due to the Covid-19 pandemic, all carmakers have noticed a slow down in the demand for automobiles. However, Tarun Garg, Director, Hyundai Motor India Ltd has brought to light an interesting change in the buying pattern of consumers.
Back when the pandemic had just started, the situation was worse as it was difficult for carmakers to judge the buying decisions of the customers. Now, however, even with the pandemic being far from over, a lot has changed.
As per Tarun Garg, Customers are now stretching the budget and want to have everything in their hands today, fearing tomorrow. He further said that people thought that the COVID-19 will lead to lower sales but the exact opposite is happening.
The market for entry-level variants has been reduced. However, people have started purchasing the middle and top-end variants only. Not only the price difference is the reason but also everyone now wants a feature-loaded car with upgraded and connected technology with enhanced safety features.
From the past few years, it's been observed that the carmakers have stopped launching cars below Rs 5 lakhs whereas a variety of cars are available priced at or above Rs 9 lakhs for the public to choose from.
After the first wave of Covid-19 was over, Hyundai launched the latest generation of its best-selling compact SUV, Creta. Commencing with its sales, Hyundai noticed that the bookings were more towards the higher and middle-level variants than the entry-level ones.
Hyundai recently launched a seven-seater SUV, Alcazar. The automaker has played it smart by not involving any basic trim with its Alcazar as it's offering premium features such as standard like a panoramic sunroof, 10.1-inch infotainment touchscreen compatible with android auto and CarPlay and 17-inch alloy wheels.
Covid has disturbed everyone's life. People have stopped commuting through public conveniences and have started purchasing their own vehicles. There is a possibility of the third wave also striking anytime, which means a lot of customers are in a hurry for quicker deliveries of the cars they have booked.
Due to the unavailability of raw materials, few carmakers have even hiked the prices of their automobiles more than three times in a year. Shortage of raw materials has kept the carmakers from making timely deliveries of the cars to the buyers. What's your take on the observation by Hyundai India's MD that COVID has led to people opting for more expensive cars? Let us know through commenting below. Join our 91Wheels Telegram and 91Wheels Whatsapp group to know more about vehicles, conduct discussions on your favourite ride and much more! Also, you can subscribe to our Youtube channel for video content on the latest from the world of cars and motorcycles.
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