Demand For Personal Cars Could Go Up Post COVID-19 Lockdown In India

• The report, titled 'Impact Of COVID-19 On Car Buying Behaviour In India,' was conducted in three vehicle segments ranging from Rs 2 lakh to Rs 35 lakh and above.
• Around 30 per cent customers are preferring to buy a personal car over public transport to reduce chances of infection.
• Demand for personal cars has increased around 10 per cent compared to pre-lockdown times.
• Around 50 per cent customers want to purchase a car within 3 months once the lockdown lifts.

The Indian auto industry is currently suffering one of its worst periods in history, with pandemic. However, there might be a silver lining once the lockdown lifts, as the most recent CarDekho survey suggests that potential buyers are now more willing than ever to purchase a personal vehicle. Here's a closer look at the report:

The report titled 'Impact Of COVID-19 On Car Buying Behaviour In India' has been done with customers categorised into three vehicle segments:

Segment 1: Rs 5 lakh to 12 lakh

Segment 2- Rs 13 lakh to 30 lakh

Segment 3- Rs 35 lakh and above.

The survey reveals that aside from family needs, around 30 per cent customers right now prefer to buy a personal car over public transport to reduce chances of infection

Vehicle Segment	Personal Car Preference (Pre COVID-19) Percentage	Personal Car Preference (Post COVID-19) Percentage
Segment 1- Rs 5 lakh to 12 lakhs	60%	77%
Segment 2- Rs 13 lakh to 30 lakhs	83%	91%

The survey has also revealed that the demand for personal cars has increased around 10 per cent especially for Segment 1 buyers post the lockdown compared to pre-lockdown times. The figures of public transport as well as rideshare services have dwindled down to nearly nothing for post lockdown demands.

While the lockdown has caused a delay in purchases for buyers, it has also caused a demand for personal cars as 36 per cent of customers are willing to purchase a personal vehicle as soon as the COVID-19 situation ends. What's more, about half of them want to purchase vehicles within 3 months of the lockdown being lifted.

It is mostly likely that car makers will take time to have some form of recovery from the damage in sales caused by COVID-19. But these surveys could suggest a positive bounceback once the lockdown and this pandemic ease up.

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