Deloitte said that Indian consumers are now ready to buy expensive vehicles despite inflation

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According to the 2023 Global Automobile Consumer Study (GACS) report by consulting firm Deloitte, they are now preferring feel over value, a clear indication of a change in their vehicle buying behaviour.

Despite fears of inflation, Indian consumers are willing to pay a higher price to buy their next expensive vehicle. According to the study conducted by Deloitte, most of these people are looking at a vehicle priced between Rs 10 to 25 lakh. According to the 2023 Global Automobile Consumer Study (GACS) report by consulting firm Deloitte, they are now preferring feel over value, a clear indication of a change in their vehicle buying behaviour.

Most of these people don’t mind waiting 4-12 weeks to feel better and get the vehicle they want. The study was conducted in India from September 21 to 29 last year, in which 1,003 consumers were asked questions. The research revealed that around 47 per cent of the respondents expressed their desire to purchase a vehicle priced between Rs 10-25 lakh. As per the study, only 28 per cent of the consumers expressed their desire to buy a vehicle priced at Rs 10 lakh or less.

About 57 percent of the respondents expressed their desire to buy an electric vehicle in the range of Rs 10-25 lakh while 20 percent expressed their desire to buy an electric vehicle below Rs 10 lakh. This showed a clear change in the vehicle buying behavior of Indian consumers, the report said. This shows that an average consumer is prioritizing feel over price. Wherein the traditional Indian consumer takes into account the prices and the comparison of price vs mileage becomes the most important thing while buying a vehicle.

Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.



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