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Trends in Automobile consumption in India

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The automotive industry in India never sleeps and hardly rests. As the per capita income, and need for comfort increases, we find ourselves buying bikes and cars and now electric bikes to suit our needs. The hassle of buying a car, applying for a loan, and mobilizing the capital for it is also greatly reduced due to the automation of key financial processes allowing people to easily buy automobiles at their convenience. 


We previously attributed the growth and flourish of the Roadside assistance industry which provides online puncture services, car battery jumpstart services, and emergency car towing services is also growing because of the increased consumption of vehicles as a country. The trends in the automobile industry helped chart the trends in industries that depend on the automobile industry. Let us examine the growth of this industry in India over the years. 


With the pandemic, and the lockdown one would imagine that a consumer’s interest in the automobile industry might have waned but fortunately for the industry, the consumer’s interest in the industry is as strong as ever if not stronger. The instincts and consumers’ interests are growing strong, but they are also evolving. What does that mean for the industry? It means that people are looking for options that are more environmentally friendly, reduce their carbon footprint, and in general, are kind to the environment. Consumer interests are evolving from being self-centered to being centered around the environment. However, it is important to point out that it is believed that the consumer interest in cars is reducing among the younger generation. 


The automotive industry has rightly gauged the pulse of the audience and what drives them currently. This has led to breakthroughs in the industry in the form of Electric Vehicles. The growth of the EV industry is happening parallel to the growth of the general automobile industry indicating that the growth is still consistent. But gone are the days when cars were a symbol of status and they evoked a sense of superiority. Today, cars are a necessity more than a luxury. 


Yet another interesting trend we are seeing among automobile consumers is the increased need for an integration of digital technologies into their vehicles for an enriching experience. From a two-music system with just a radio, to a full-fledged AV system with navigation systems we’ve come a long way. The best part is that this area’s innovation will be constantly lauded and accepted by the masses with open arms. 

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