As the demand for new vehicles continues to increase, people are now looking at discounts that are usually offered at this time of the year. According to the survey data analysed by Grant Thornton Bharat, around 6 in 10 people wait for discounts if they plan to buy a vehicle. As many as 87% respondents expect discounts to be given this festive season. At least half of them agreed that they may be willing to exceed their budget if they get heavy discounts on high-end models. 94% buyers would also check multiple dealerships and look for better and more competitive discounts.
- SUV enthusiasts have an average income of INR 15 lakh and more annually
- Increase in number of people inclining towards EVs and Hybrid
- Youngsters/millennials favour personal vehicles for commuting; a shift from car-sharing post COVID-19 outbreak
- Pent-up demand likely to slip in to next year
For more insights, download the report here.