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Covid-19 impact rises in number of first-time buyers, additional purchase, says Maruti Suzuki | Customers buying their own vehicles instead of using public transport, 51-53% stake in first-time car buyers in first quarter of 2020

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  • Covid 19 Impact Rise In Number Of First Time Buyers, Additional Purchase, Says Maruti Suzuki

new Delhi26 minutes ago

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The number of customers of car replacements has also gone down, although the number of additional car buyers has also increased, because they have to purchase due to need.

  • First car buyers had a 5.5% stake in the fourth quarter of last year
  • Inquiry level of mini and compact segment reached 85-90% before Kodiv.
  • Passenger vehicle sales were 96,478 units in July 2019, which now rose 1.3% to 97,768 units.

Due to Corona, the trend of people has shifted towards personal mobility. According to Maruti Suzuki India, the percentage of customers purchasing additional cars along with first-time car buyers has risen amid the Kovid-19 epidemic as customers are preferring to buy their own vehicles rather than public transport. The company also believes that vehicle sales have improved in July, but the outlook for the festive season will depend on how the health crisis is ending, and demand for long-term vehicles is also the core of the economy. A lot will depend on principles.

Shortage of customers who exchange cars
The company reported that, “The number of first-time car buyers has gone up, while the number of car replacements has come down. This means that the exchange customers have decreased. However, additional car buyers have also increased, because They have to buy due to need. “
Explaining the reason behind this, he said, “It means that people are preferring to travel by their own vehicle rather than public transport. Also their income level is probably reduced for some time. Hence, the trend Moving to what we call the ‘Telescoping of Demang Downward.’ Which is logical and intuitive.

First-time buyers accounted for 5.5% in the fourth quarter of last year
The company saw first-time buyers’ share in the first quarter of this fiscal from 5.5 percent to about 51-53 percent compared to the fourth quarter of 2019-20.

Prior to Kovid, there was a lot of inquiries in the mini and compact segments.
Maruti Suzuki India has raised the inquiry level to 85-90 percent before Kodiv, with the highest number of inquiries being done for the mini and compact segment, which was around 65 percent as compared to the earlier 55 percent.

Mini segment sold 17,258 cars in July, up 49.1% from last year
In July, sales of the company’s mini segment cars including Alto and S-Preso increased by 49.1 percent to 17,258 units from 11,577 units in the same month last year, but in the compact segment such as WagonR, Swift, Celerio, Ignis, Baleno and Dzire Model included. Whose sales were down 10.4 per cent with 51,529 units compared to 57,512 units in the same month a year ago. Total domestic passenger vehicle sales were 96,478 units in July 2019, now up 1.3 percent to 97,768 units.

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