Monday, December 20, 2021
By Kamal Swami
Consumers have positive intent towards buying a vehicle!
The majority of the consumers show positive intent to purchase the vehicle in the coming 12 months. The mobility outlook survey signifies 83% of respondents will purchase new vehicles, 13% might purchase & 4% doesn’t have the interest to buy an automobile in the next 12 months.
Further research shows that 52% of respondents believe in purchasing a new personal car & 33% looking for a new scooter. The survey data claims 13% of respondents are intended to buy a used car & 3% to purchase a used scooter or motorcycle.
Additionally, people who want used vehicles state it is a good deal, cheap and value for money. Moreover, they are getting the upper segment at the same price. The intent to purchase a new vehicle is strong as well as a significant hike will also depict in the used car market. A car purchase becomes a status symbol for many people and also added to spending habits. The automobile sector will face a boom in the upcoming 2022 year and might be a gold milestone for automobile companies.
14% of respondents have increased the budget by 20% after COVID19, whereas 49% of respondents have not changed their budget and remain the same. The ownership is concerned because 74% of respondents preferred direct purchasing from a dealership, 17% will purchase on a 1-4 years lease, 5% choose short-term lease & 3% wanted vehicle subscription services. 
