The aim of the project was, to study and find the preferences of consumer for a specific car. Up to the end of nineties it was the monopoly of the Maruti Udyog. Now Indian Car Industry is one of the most competitive industries of the world. So the consumer is also differentiating while purchase.
We surveyed that on what points the consumers where differentiating between various models and brands. The main motive was to know what consumer wants in the car these days.
The methods adopted to collect information on small car market were mainly through primary data. We did a survey in the city Bangalore which is the most important IT hub of India. We made questionnaires and did survey. The areas we visited were those where most of the people visit often like shopping malls, parks and major car dealer showroom like Advaith Hyundai, Trident Hyundai, Mandovi motors etc. We also interviewed these dealers.
Quick glance into Indian Car Industry:
Having expanded at a brisk pace in recent years to touch an annual output of 1 million units, the Indian car industry is all set for its busiest ever period of new launches. It is estimated that nearly 50 new models or variants of existing models would be launched over the next year or so, taking the total number of models and variants available to nearly 250, a far cry from the days when consumers had to choose from just two or three models.
One of the most competitive industries of the world, Indian car industry is today at a place which is hard to be reached by any industry easily. Most of the consumers are small car buyers. So, small car segment includes a large part of consumers whereas luxury segment only serves a niche market.
The country now produces more compact cars than the whole of Europe. If the current growth rate in compact cars is maintained, India would beat Brazil very soon to become the second-largest manufacturer of small cars behind Japan over the next few years.
Although the automobile industry in India has come a long way, when compared with many other countries, India does not rank well in many respects like the contribution of the auto sector to industrial output, number of cars per person, auto sector employment as a percentage of industrial employment, number of month income required to purchase a car and penetration of cars.