A carandbike survey from May this year opened the discussion about personal mobility being the way forward for consumers post the COVID-19 pandemic. Now, the Society of Indian Automobile Manufacturers (SIAM) has reaffirmed that very notion with a survey of its own. SIAM along with Grant Thornton India has conducted a joint survey and the findings say that consumers are likely to opt for personal vehicles now rather than travelling by public transport. As much as 73 per cent of travellers showed a willingness to purchase new vehicles as the economy revives and they get a clear idea of their budget and income in the future.
In fact, 29 per cent of the surveyed respondents planned to purchase a new vehicle over a period of 12 months while 8 per cent have imminent plans and are likely to purchase a vehicle in the next six months. However, over 56 per cent participants who at present own a vehicle already, feel that it makes better financial sense to keep their current vehicle, considering the overall economic scenario at present. And again inline with our survey, 68 per cent of total respondents preferred to stick to the traditional concept of visiting showrooms for vehicle purchases, while 25 per cent were open to exploring online channels. Just 7 per cent of total respondents preferred to use digital platforms.
Speaking on the survey, Rajesh Menon, Director General, SIAM commented, "The automobile industry was already witnessing a de-growth even before the pandemic befell. COVID 19 has further intensified the situation. The survey revealed two clear trends on the personal mobility front. While most consumers are preferring personal mobility over public and shared transportation, the slowing economy and its adverse impacts will continue to remain a cause of worry for consumers when it comes to making new purchases. On the other hand however, due to safety concerns in the wake of the pandemic, customers who earlier were not considering buying vehicles, have also now become potential buyers. The automobile sector has traditionally been one of the most resilient sectors and findings of this aforementioned survey corroborate our optimism towards a healthy resurgence soon."
This survey also entails that sales of automobiles are likely to ascend moving forward with more people going in for personal mobility and it's already started recovering as we saw with the sales figures last month. Over 57 per cent of respondents in metro and non-metro cities expressed that they are more likely to buy a vehicle for their daily commute. Interestingly, 20 per cent respondents also showed preference towards two-wheelers and electric vehicles (EVs).