Auto

SIAM survey finds 73 percent willing to buy new vehicles to avoid public transport during pandemic

(*73*)

‘While most customers are preferring private mobility over public and shared transportation, the slowing economic system and its adversarial impacts will proceed to stay a explanation for fear for customers’

Image for representational goal solely

Society of Indian Automobile Manufacturers (SIAM) and Grant Thornton India have launched the findings of an opinion ballot titled “Personal Mobility Experience post COVID-19”. The joint survey suggests a shift in choice, with extra customers possible to go for owned vehicles, than journey by public transport. 73% of the respondents displayed their willingness to buy new vehicles because the economic system slowly revives.



It is attention-grabbing to word that, whereas 29% of the surveyed respondents deliberate to buy a new automobile over a interval of 12 months, 8% confirmed a willingness to buy a new automobile within the subsequent six months. More than 56% of members really feel that it makes higher monetary sense to maintain their present automobile, contemplating the general financial state of affairs at current.

“The automobile industry was already witnessing a de-growth even before the pandemic befell. COVID 19 has further intensified the situation. The survey revealed two clear trends on the personal mobility front, “ Rajesh Menon, Director General, SIAM said.

“Due to safety concerns in the wake of the pandemic, customers who earlier were not considering buying vehicles, have also now become potential buyers. The automobile sector has traditionally been one of the most resilient sectors and findings of this aforementioned survey corroborate our optimism towards a healthy resurgence soon.”

Also learn: August 2020 automotive gross sales: Maruti, Hyundai, Tata lead the cost with progress amid coronavirus pandemic

Also, as per the survey findings, greater than 57% of respondents in metro and non-metro cities, expressed that they’re extra possible to go for Passenger vehicles for day by day commute when requested about the kind of automobile they’re almost definitely to buy. Respondents additionally confirmed choice in the direction of two-wheelers and electrical vehicles (EVs), accounting for round 20% every.

Overall, 68% of the overall respondents most popular to stick to the standard idea of visiting showrooms for automobile purchases. While 25% had been open to exploring on-line channels, solely 7% of complete respondents most popular to use digital platforms.

Get reside Stock Prices from BSE, NSE, US Market and newest NAV, portfolio of Mutual Funds,
calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and comply with us on Twitter.



Source



Back to top button