In the fast lane

Launched by Accentium Web Pvt. Ltd. in mid 2008,Gaadi.com aims to create a one stop-shop for car purchasers,both new and used,from researching which car to buy to contacting the closest dealer for price quotation and insurance information. Keeping in mind the preference and psyche,the survey analyze a consumer’s car buying habits using the ‘Recommend Me a Car’ feature,for a period of two months. The survey took into account the respondents age,occupation and gender. The total respondent size was 28,934 across India,with 88 per cent males and 12 per cent females. And here’s what these guys found out: Over 46 per cent of the women respondents look for Sedans as their first car. In fact,55 per cent Indians are keen on purchasing a Sedan over a hatchback. Traffic jams are certainly not a strong factor here! For over 45 per cent of the Indian buyers,style and comfort are the most important parameters while purchasing a car over mileage. And respondents under the age of 30 are willing to spend almost twice their annual income to buy their first car! Check this: People in an annual income bracket of Rs 3 lakh to 9 lakh are willing to spend their entire annual income on a new car purchase!

Commenting on the survey,Vivek Pahwa,CEO,Gaadi.com reflects,“The Indian automobile industry is the fastest growing and the ninth largest in the world with an annual production of over 2.3 million cars in 2008. Looking at the dynamics of the industry,with new models launching,international car manufacturers throwing numerous options to the consumers and increasing competition amongst brands,there has been a rapid change in the consumer preference. Also,rise in the disposable income of the Indian middle class is one of the major factors driving these trends.”

In 2009,India emerged as Asia’s fourth largest exporter of automobiles,after Japan,South Korea and Thailand. Almost 90 per cent of consumers today use the Internet to research vehicles. Nearly 40 per cent would like to buy a car over the Internet,and half would purchase parts and accessories online,the main reasons being price discounts and dissatisfaction with the dealer/retailer process. Guess Skoda did a wise thing by going online too!