Most of the dealerships have reopened post the COVID-lockdown and back to business. But one concern that is uncertain among all of them is the future of the auto industry in India.
We at ARPRO (www.autoretailpro.com) have always been optimistic about the auto industry and what we are going to share with you now will only reiterate it.
There was a recent survey conducted by Capgemini across the globe to understand the sentiments of car buyers. The survey states that 57% of respondents from India want to buy a car in 2020 as per this video below.
Let’s understand this in detail:
1. Why do people want to buy now?
Everyone is concerned about the health of themselves and their family and hence don’t want to depend on public transport, ride hailings services like UBER, OLA, self-drive car rentals like Zoom cars or Myles or even carpooling to office.
2. Who are these customers?
Out of the 57% of respondents who want to buy a car post lockdown, 45% are aged less than 35yrs and they are optimistic that we will come out of the COVID pandemic within 6 months.
They are people who did not believe in buying a car earlier and were using the ride-hailing services or self-drive rentals
All of them are tech-savvy and 70% of respondents don’t want to visit a dealership but would prefer an online transaction which is way above the global average of 46%
That means the majority of our car sales will now come from digital platform
3. What could be the future innovations in the auto retail industry to match this new customer requirement?
Most of the Car manufacturers would target digital modes of advertising and reduce the traditional methods.Car manufacturers would develop special finance packages for cars like flexible EMI’s and low downpayment
Car manufacturers will concentrate on bringing in features like an air purification system and UV LED-based car interior sterilisation system.
The focus will go from large car dealerships to smaller customer experience centres in shopping malls and smaller cities too.
Car manufacturers will ensure strong implementation of sanitising & cleanliness process in all experience centres. And also communicate the same to customers, to give them more confidence to come to the experience centres.
So with all these steps in place, we are sure that we will see a more positive and growing auto industry in India.So let’s be optimistic and work positively towards our role in the auto industry.
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