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Consumer preference of small cars

The Indian Automobile sector with 2.6 million units produced in the 2009, is the 7th largest in the universe and the 4th largest exporter in the universe. Indian car sector registered a growing of 25.76 % during recession, where at the same clip the largest car market in the World, U.S. registered a loss in gross revenues. At present India is the 2nd fastest turning car market after China.

Some of the factors lending to this exceeding growing were:

Introduction of stimulus bundle by the authorities

Lower involvement rates

Sixth Pay committee

Introduction of new and attractive theoretical accounts by the company

The analysis was based on the current state of affairs of both Global and Indian Automobile industry. The Car industry is turning at a phenomenal rate, with particular reference of the little auto section. Sing the Indian scenario, apart from the major place grown participant viz. Maruti Suzuki, Tata etc. international participants like Volkswagen, Nissan are besides come ining the Indian market due to its high potency in the little auto market.

Consumer ANALYSIS

India is a state of varied consumer sections with varied behavior, likes & A ; disfavors. The income distribution is besides non unvarying throughout India. Harmonizing to the statistics, out of 1000 families in India, 30 own a auto with a incursion of merely 45 % . Now based on the income distribution, around 70 per cent are at the underside of the pyramid which could afford little autos merely. Hence there has been as enormous growing in the little auto section.

Factors bespeaking the purchasing behavior:

Easier movableness in metropolis

Ever increasing traffic jobs

Poor Infrastructure

Families holding large autos lookout for little autos by and large for the females in the household

Compact design attracts many.

Smaller autos are considered as more fuel efficient than the large autos which in many instances is true.

Small autos are considered easy to park by both genders across sections.

SEGMENTATION AMONG SMALL CARS

The rider auto industry is segmented into 6 sections, from A1 to A6, depending on the length of the vehicle. This categorization is done by SIAM, the Society of Indian Automobile makers of India.

The categorization standard ( in metres ) for the assorted sections is as given below:

1. A1 ( Mini ) : & lt ; 3.4 m

2. A2 ( Compact ) : 3.4 to 4.0 m

3. A3 ( Mid-size ) : 4.0 to 4.5 m

4. A4 ( Executive ) : 4.5 to 4.7 m

5. A5 ( Premium ) : 4.7 to 5.0 m

6. A6 ( Luxury ) : & gt ; 5.0 m

Our premier focal point would be on A2 section i.e the compact or little auto section. The major participant in this section in India is Maruti Suzuki, followed by Hyundai, Tata, Chevrolet and others.

INDIAN SMALL CAR SEGMENT ANALYSIS: SURVEY RESEARCH

The study covers the analysis of little auto section in India. To analyze the automotive sector in India, primary research was carried out to happen out the growing forms and the key participants in the market.

The survey is a comparative analysis maintaining Maruti Suzuki A-Star as the chief theoretical account for survey. The survey besides aims to do strategic recommendations for Maruti Suzuki India Ltd. and its merchandise A-Star to better growing or market portions as is required after an analysis of their comparative places in the Indian automotive market.

ANALYSIS METHODOLOGY

The footing of survey was chiefly the secondary informations. For obtaining primary informations, studies were conducted, both on-line and written questionnaires. Cleavage was done on the footing of gender and age groups. The merchandises of the rivals were decided on the footing of market monetary value. All autos in the same monetary value set were considered as the rivals.

For the intent of survey of the little auto market, the sample size of 94 was taken. The sample included both Maruti and non-Maruti proprietors. The aim of this survey was to place the trade names in little auto industry in India and where does Maruti A-Star base with regard to different parametric quantities. Maruti A-Star was compared with choice trade names that are top merchandising autos in India.

The undermentioned autos were compared to with A-Star:

Maruti Ritz

Chevrolet Spark

Hyundai i10

Tata Indica

The division was based on the footing of monetary value set of these autos in little auto section.

The parametric quantities on which the comparing was made were: –

Performance

Safety

Appearance

Comfort

Value for money

Features

Quality and Availability of Service

Resale Value

Some figures about the study: –

Sample Size = 94

Methodology = Online and Face-to-Face Interviews

Target Group ( based on the age groups )

21-25 old ages

26-35 old ages

36 old ages and above

The study was taken by 62 males and 32 females.

Male 62 66 %

Female 32 34 %

The Survey was taken by varied age groups comprising of approximately 84 % as Indian young person.

21-25 79 84 %

26-35 10 11 %

36 above 5 5 %

From the sample, 3.19 % of the population already had A-Star with them.

DATA ANALYSIS

The entire market portion of Indian auto makers harmonizing to the study is:

Maruti Suzuki holds a 46.6 % portion in little auto section and Hyundai comes close 2nd with 30.04 % . Harmonizing to the latest studies, Maruti has declared that it will seek and retrieve its doomed market portion and recover its portion to over 50 % . The staying includes little autos from TATA, Chevrolet, Ford, Honda etc.

The entire figure of people who would see A-Star as a purchasing option is about 34 % , which is significantly less than other autos of Maruti.

Sing the pick of autos among consumers on the footing of different parametric quantities, the undermentioned consequences were drawn: –

Performance: –

Maruti A-Star

7

7 %

Maruti Ritz

25

27 %

Chevrolet Spark

12

13 %

Hyundai i10

43

46 %

Tata Indica

7

7 %

On the footing of public presentation, the consumers consider Hyundai i10 as the best in the little auto section with less than one-fourth consumers sing Maruti Ritz in public presentation. A-Star is manner behind in footings of public presentation.

Safety: –

Maruti A-Star 7 7 %

Maruti Ritz 25 27 %

Chevrolet Spark 12 13 %

Hyundai i10 43 46 %

Tata Indica 7 7 %

Maruti A-Star

6

6 %

Maruti Ritz

19

20 %

Chevrolet Spark

12

13 %

Hyundai i10

38

40 %

Tata Indica

19

20 %

In footings of Safety, Hyundai i10 tonss once more with 40 % of the population giving Markss to i10, all the other rivals are manner behind with A-Star being the lowest in footings of safety. One of the grounds for its safety concerns would be the latest measure by Maruti to remember one lakh A-Staraa‚¬a„?s to avoid fuel escape job.

Appearance

Maruti A-Star

8

9 %

Maruti Ritz

23

24 %

Chevrolet Spark

23

24 %

Hyundai i 10

40

43 %

Tata Indica

0

0 %

In footings of expressions and manner quotient, Hyundai i10 tonss above the remainder. Almost two times the population thinks i10 to be better in visual aspect than the Maruti. Merely 9 % of the population thinks A-Star to be clean, whereas none consider Indica as good on expressions.

Comfort

Maruti A-Star

7

7 %

Maruti Ritz

23

24 %

Chevrolet Spark

13

14 %

Hyundai i10

41

44 %

Tata Indica

10

11 %

Comfort defines capaciousness, seating, legroom, caput infinite, driving comfort etc. Here once more i10 tonss manner high than remainder of the batch. A-Star hiting the lowest with merely 7 % sing it to be comfy.

The ground for such low evaluation could be: –

Indian households buy auto for the complete household non for a individual individual

Sing it as a little auto Indian households do non happen it utile for long distance traveling.

Value for Money

Maruti A-Star

18

19 %

Maruti Ritz

21

22 %

Chevrolet Spark

12

13 %

Hyundai i10

36

38 %

Tata Indica

7

7 %

Maruti autos are known for value for money. This is the ground a sum of Maruti manufactured autos have more value for money for the clients than any other maker. Hyundai i10 leads the market with 38 % portion in footings of value for money and A-Star scores a important 19 % .

Features

Maruti A-Star

8

9 %

Maruti Ritz

29

31 %

Chevrolet Spark

11

12 %

Hyundai i10

44

47 %

Tata Indica

2

2 %

Maruti autos sometimes compromise on insides, accoutrements and characteristics provided to present a value for money merchandise for the multitudes. This is the ground why Maruti autos score less in footings of characteristics than other trade names. Hyundai leads in this parametric quantity by about 50 % .

Quality and handiness of Service

Maruti A-Star

16

17 %

Maruti Ritz

35

37 %

Chevrolet Spark

6

6 %

Hyundai i10

30

32 %

Tata Indica

7

7 %

What differentiates Maruti as a trade name from any other maker, apart from value for money is, its Service. It is known in every portion of India as one of the best after gross revenues service suppliers. Here Maruti autos tonss above other car makers by a big per centum. Hyundai holding a larger client base than most makers comes 2nd.

Resale Value

Maruti A-Star

25

27 %

Maruti Ritz

25

27 %

Chevrolet Spark

5

5 %

Hyundai i10

28

30 %

Tata Indica

11

12 %

Todayaa‚¬a„?s young person wants to alter autos rapidly because of the addition in figure of market offerings by the companies. Everyone wants a new and feature rich merchandise and wants to sell the old 1 at a good monetary value. The True value system was started by Maruti innovators in selling 2nd manus autos at a good monetary value. Chevrolet Spark has the lowest resale value in this instance.

Following illations can be drawn from this: –

Resale value of Maruti, particularly A-Star is far better than any maker

The client keeping scheme for A-Star is non good for Maruti

Findingss

The followers could be inferred from the study: –

Maruti Suzuki as a company has the highest portion in the car market in India, but if we consider the merchandises separately, so we find that there are many other merchandises which score higher than those of Maruti Suzuki.

Hyundai i10 is the leader in the little auto section, followed by Maruti Ritz, WagonR and other Maruti autos. A-Star ranks manner below in the list.

In footings of public presentation, safety, visual aspect, comfort and characteristics, Hyundai i10 has a much higher per centum of positive responses than any other trade name auto including Maruti.

When we consider the quality and handiness of service, value for money and the resale value of autos Maruti autos innovator in its category.

A sum of 25.53 % of Males would see purchasing A-star where as merely 8.51 % of females would prefer purchasing it.

As for the age groups, 27.65 % of the Indian young person would see it as an option when purchasing a auto and 3.19 % each of the age groups 26-35 old ages and 36 and supra would include it in their pick sets.

Restriction

The consumer study was restricted to the characteristics of the auto that the clients can place with and non the proficient facets of the cars. This study does non take into consideration the proficient characteristics and merely the aesthetics, value and quality of service of the auto.

The study was besides subjective and depended on the perceptual experience of the respondent.

Decision

The study conducted for among assorted participants in the little auto section car industry led to the decision that consumers do non normally go for characteristic rich auto. Most frequently the companies fail to pass on those characteristics to the audience. Like in instance of Maruti Suzuki A-Star which was one of top characteristic rich merchandise but non in the heads of consumers, Consumers did non take A-Star to the degree that was expected by the company when they introduced it in the market in the 9th Auto Expo.

Common form observed in the placement of little autos:

They are frequently non marketed as a household auto. Its premier focal point is youth. As per the consumer analysis of Indian car sector, it shows the Indian purchasing behavior is influenced mostly by the household. The first penchant of an Indian household is to purchase a auto for the whole household.

Pricing has been a large concern for the little autos. The jumble nowadays in this section makes it highly hard to monetary value it harmonizing the rival which might be supplying better public presentation, manner and comfort at the same monetary value.

Interior was one of the parametric quantity on which different trade names were surveyed. A-Star was rated the lowest in this parametric quantity. With the rivals supplying better insides at the same monetary value set, Maruti Suzuki, the taking trade name in this section was seen dawdling to other participants.

It has been observed that Indian apart from the insides, prefer to purchase a auto with a big boot infinite and a large leg room. This is besides seen as a large ground why little autos are non considered for long distance traveling.

Cars made with focal point on Indian conditions were seen more popular than other trade names. Maruti Suzuki A-Star was chiefly introduced as specifically for Indian customersaa‚¬a„? auto. It was subsequently re-modelled to accommodate the European conditions and was thenceforth considered merely as an export auto. This led to the diminution in its gross revenues in Indian market.