Top priorities for Indian car buyers in 2023 8th February 2023
Safety is undoubtedly at the forefront of your mind when you plan to buy a new car. However, many other crucial factors come into play in this decision-making process. These factors include essential safety features, enticing designs, and performance. Remember also to consider purchasing online car insurance for added peace of mind.
To make your car-buying experience even more enjoyable and impactful, here's a list of these priorities, ranked in order of importance. Get ready to make an informed decision in 2023.
1. Price and budgets:
Every car buyer's #1 concern is cost. There is a set budget for everything, including purchasing a car or allied online car insurance. Everybody will work to maximise their car's potential while paying the least money. And because the transition to the BS6 emission standards resulted in a price increase. Carmakers know the purchasing power of their customers, hence offering the options of different variants and pricing accordingly.
2. Fuel efficiency:
When it comes to cars, mileage is a crucial factor, as any Indian car buyer would tell you. There have been old models that were strong and packed with best-in-class features but failed terribly due to their poor fuel efficiency. For Indian consumers, a low kilometre per litre is an absolute red sign.
3. Service and maintenance cost:
A buyer considers other factors outside of the car's initial cost. Adding to budget planning are the prices of routine services. Therefore, the car should become affordable over time. Because of their hefty service costs, certain brands lose their preferability. However, a reliable car care partner may help reduce those service fees.
4. Qualities and design:
For many Indians, cars remain an enviable luxury. Since cars double as a status symbol in India, regardless of their features or powertrain specifications, an unattractive vehicle will not sell. Despite the wide variety of aesthetic preferences, some people prefer their cars to be more understated and sophisticated, while others like them to be more showy and solid.
5. Transmission and performance:
While performance isn't a top concern for most car buyers, Indians want their cars to be quick enough. Because people love the power of such vehicles, turbocharged engines have recently become increasingly popular.
6. User protection:
Safety is essential when considering cars, especially since India experiences many fatal traffic accidents. Safe driving and general awareness regarding standard driving guidelines can help resolve this problem and minimise the risk of accidents and fatalities.
While the auto industry recognises the need for high-quality cars, it does not respond to such demand immediately since Indians are price sensitive and do not wish to extend their budget to factor in their safety. We must realise that the cost of cars will need to go up because of increased protection. A strict set of safety rules and regulations is utmost required in India.
7. Reduced wait period:
It is challenging to be patient when making a significant investment in a car that is not just a means of conveyance but a measure of comfort and a sign of material wealth. Post the global pandemic, supply chain disruptions led to shortages of highly customised components, stopping assembly operations of various goods, including cars. With more car manufacturing factories opening up across India, car buyers can expect some relief from long waiting periods to get their hands on the keys to take their new cars for a spin at the earliest!
An overview of the top 7 priorities for Indian car buyers shows that price and features continue to take primary importance in the checklist. The addition of safety characteristics indicates a shift towards safer cars. We encourage you to purchase online car insurance after careful consideration and comparison while purchasing your car to ensure that you have safe, stress-free driving experiences!
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Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.