Demand for sporty and stylish cars on rise in India
Take a look at the cars launched in the compact hatchback segment in India in last few years and you can easily witness the changing sentiments among the car makers regarding the design and styling of cars. At present, a range of these stylish and trendy cars is available in the country that comprises of Hyundai i20, Fiat Punto, Chevrolet Beat, Ford Figo Volkswagen Polo and Nissan Micra. These cars are not only more stylish and trendy but also more comfortable and convenient as compared to their predecessors of late 90's.
India, which has always been considered a highly cost and mileage sensitive market, is now gradually moving towards a market where the buyers are taking a considerable interest in style, design, technology and features of the cars before buying them. According to a study done recently, the average age of car buyers in India has dipped to 32 years from 39 years a decade back. The age group of 25 to 30 years is now accounting for a major chunk of the total car sales in the country which has ultimately contributed in changing the flavor and color of the cars in India. The demand of trendy hatches and high-performance SUV's (sport utility vehicles) by the new age buyers has forced car makers to quit the traditional way of designing and adopt a more sophisticated and advanced approach while manufacturing cars.
Mr Mayank Pareek, executive director (marketing sales) at Maruti Suzuki, recently, in a statement given to a leading media group said that the company is now dealing with younger customers who are not just hugely demanding but also frequently changing cars. He added that this post-liberalisation generation is willing to spend on new products and willing to experiment a lot. It is to be mentioned here that Maruti India, which is country's largest car maker, has been registering a steep rise in the demand for its two of the most stylish cars - Maruti Swift and Maruti A Star.
Moreover, due to this high demand and changing sentiment, the Indian car market is registering a considerable increase in its growth rate. In July 2010, the total growth of the market was 37% year-on-year to 2.22 lakh units.
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