Click to play videoNew Delhi: Even as auto sales worldwide slumped, India's passenger car sales continued on the road to recovery from April this year. Government stimulus, aggressive product launches and consumer confidence fueled demand and sales have surged for nine consecutive months. Indians bought at least 17 per cent more cars this September.
Director General SIAM, Dilip Chenoy said, "Cars like the I10, I20, Swift, AStar, Ford Fusion and even the Spark are the types of cars that are really in the below Rs 6 lakh price range. This segment is expanding much faster than the others."
More of India's first time buyers - rural and urban - have been flocking to showrooms. This time around, they are more concerned with value rather than just status. A lot more attention is being paid on features of the vehicle, the after sales service, the cost of servicing, running the car and its re-sale value. The total cost of ownership is worth the wait.
A Government employee, who bought a car this year, Ashutosh Singh, says, "It's (buying a car) is a long term decision."
There may be no wrong time to buy a car, but the current scenario, with its lower than ever interest rates which could change in the next three months. Meanwhile, a favourable tax regime and thriving competition between vehicle manufacturers is giving consumers the push from window shopping to getting behind the wheel of their dream car.
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