New Delhi: Women will have more money to buy cars than men in the next 6-12 months, according to a survey by Vuclip, a mobile video search and delivery company.
The firm surveyed 184,786 mobile phone users in India between 5-13 September and found that while 37% of the respondents plan to buy a new car within six months, 54% plan to buy a car in the next one year.
“Surprisingly, 39% of all women respondents had a budget of more than Rs.10 lakh compared with only 31% of men having a similar budget to buy a car,” the survey said.
About 68% of the respondents were male. Cost was the most important factor in four-wheeler purchase decisions for 15% of the respondents, followed by value, brand, engine and looks.
“This indicates a huge opportunity for the small and mid-segment car manufacturers to influence the purchase decision of these prospective buyers by aligning their product launches to consumers’ preferences,” it said.
Car sales grew 0.86% in the first five months of this fiscal for a total of 752,440 units, according to data compiled by the Society of Indian Automobile Manufacturers. Growth in car sales has slowed because of rising fuel prices, high interest rates and negative consumer sentiment.
“The findings of our surveys reveal major indicators on car purchase decisions and brand preferences in India,” said Meera Chopra, Vuclip’s vice-president and head of advertising, APAC and Middle East.