The second wave
of Covid-19 has brought about many changes in the automotive industry as it has
affected people’s purchase plan for cars. According to the data collected by YouGov
Omnibus, out of 1005 respondents, 295 people have either delayed or cancelled
their plan to purchase a car in the near future. Also, 1 in 5 (22%) people plan
to go ahead with buying a car as the vaccination drive has begun in the country
while some 13% have completely given up the plan to buy a car and will go ahead
with buying a two-wheeler instead. As per the data, only 19% respondents have
shown their willingness to buy pre-booked cars, whereas 27% have shown a change
in their budget and 19% have planned to change the type of the car they wanted
It is observed
that before the second wave, people wanted to buy hatchbacks followed by
premium hatch cars. The situation seems to be different now as most people who
were looking to purchase a car have postponed their plan by 7-12 months.
People’s preferences have also changed and entry-level sedan cars like Amaze,
Tigor, and Dzire are more desirable now. Earlier, 13% people wanted to buy this
model, while 21% are now looking to buy this type of car. Premium sedans have seen a decline from 11% to 5%.
People have different reasons to change their plans of buying a car.
Some have completely cancelled their plans to buy a car while 43% are waiting
for the situation to improve, and hence, have delayed their plans.
Source: Express Drives, Financial Express