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Blog ID : 172705
The automobile industry is seeing a fast-paced change in trend with the convergence of consumer and automotive technologies. A more aware consumer is no longer just a driver and would like to be connected to the automobile. It isn’t the most rational economic decision to spend on an asset that loses its value by 13% the minute you drive it out, and is idle for 80% of the time. Learning from the mature markets, when people make it to the middle class, shopping for an automobile is their first choice. In India, millions of users are reaching that threshold. 40% of the buyers of automobiles are first-time buyers. Also, India being one of the youngest countries, with the average age being 26years, the future won’t look like the past as new ownerships are opening up and gaining traction. The demanding consumer has become further responsive with the advent of internet. A seamless integration between the ‘click and mortar’ and ‘brick and mortar’ is essential for the urban distribution chain, as the number of Internet users is expected to quadruple by 2025 in India. India’s automotive industry promises to be very different by 2025. Explosive population growth will more than double sales of passenger vehicles, commercial vehicles, and two- and three-wheelers—going from 18 million units in 2015 to 46 million by 2025.

Category : Autos


Date Added : 29-1-2016