1 in 3 Indians To Rely On Safety Of Personal Cars Post Lockdown: Report

• 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 zero sales in April 2020. This is directly due to the lockdown imposed in the country due to the coronavirus 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.

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• Hyundai Joins The Fight Against COVID-19 In India

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.