Study of the Trends and Customer Buying Behaviour in The Automobile (Car) Industry

Year : 2024 | Volume :14 | Issue : 02 | Page : 9-18
By

Aniket Tyagi,

Monis Faiz,

  1. Student School of Finance and Commerce, Galgotias University, Greater Noida Uttar Pradesh India
  2. Student School of Finance and Commerce, Galgotias University, Greater Noida Uttar Pradesh India

Abstract

This study examines car buying behavior in India, one of the largest automotive markets globally, contributing significantly to the Gross Domestic Product (GDP). Understanding how consumers decide on car purchases is essential for manufacturers and marketers. The research involved a comprehensive methodology, including a literature review, questionnaire design, survey distribution, and data analysis, to gain insights into Indian car buyers’ preferences and trends. The findings reveal that young adults, primarily aged 18 to 35, with varying economic backgrounds, dominate the car market. A significant number of respondents do not own cars, highlighting potential market growth opportunities. Sedans are the most preferred car type, followed by SUVs and hatchbacks, with Maruti, Hyundai, and Honda being the top brands. Conventional fuel types, such as gasoline and diesel, are favored, and brand image strongly influences purchasing decisions. Technological advancements play a crucial role in shaping consumer expectations, with a growing interest in electronically operated and automated vehicles. The integration of big data helps manufacturers understand consumer preferences and plan future strategies. Despite these findings, the study acknowledges limitations such as sample bias, data accuracy, and the generalizability of results across different markets. The complexity of consumer behavior and external factors like regulatory changes and economic shifts also impact purchasing decisions. Future research should focus on the effects of autonomous vehicles, sustainability, digital transformation, personalized experiences, and urban mobility trends. Cross-cultural studies and the impact of technological innovations present valuable opportunities for further exploration. This research offers actionable insights for automakers, marketers, and policymakers. Aligning products and marketing strategies with consumer trends can enhance customer satisfaction, increase market share, and promote sustainable growth. Emphasizing advanced technologies and environmental sustainability will be crucial for meeting future demands in the Indian automotive market and maintaining its global competitiveness.

Keywords: Car buying behavior, Indian automotive market, consumer preferences, technological advancements, brand image, big data, sustainability, digital transformation, autonomous vehicles.

[This article belongs to Journal of Production Research & Management(joprm)]

How to cite this article: Aniket Tyagi, Monis Faiz. Study of the Trends and Customer Buying Behaviour in The Automobile (Car) Industry. Journal of Production Research & Management. 2024; 14(02):9-18.
How to cite this URL: Aniket Tyagi, Monis Faiz. Study of the Trends and Customer Buying Behaviour in The Automobile (Car) Industry. Journal of Production Research & Management. 2024; 14(02):9-18. Available from: https://journals.stmjournals.com/joprm/article=2024/view=156173

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Regular Issue Subscription Original Research
Volume 14
Issue 02
Received May 24, 2024
Accepted June 4, 2024
Published July 12, 2024
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