‘Indians spend 1.5 times of annual income on cars’

* Over 46% of the women respondents look for Sedans as their first car

* For over 45% of the Indian buyers,style and comfort are the most important parameters while purchasing a car over mileage

* Over 55% Indians state that they are keen on purchasing a Sedan over a hatchback without keeping the hurdles of traffic jams in mind

* Respondents under the age of 30 are willing to spend almost twice their annual income to buy their first car

* People in an annual income bracket of Rs.3L-9L are willing to spend their entire annual income on a new car purchase

Commenting on the survey,Mr. Vivek Pahwa,CEO,Gaadi.com said “The Indian automobile industry is the fastest growing and the ninth largest in the world with an annual production of over 2.3 million cars in 2008. Looking at the dynamics of the industry,with new models launching,international car manufacturers throwing numerous options to the consumers and increasing competition amongst brands,there has been a rapid change in the consumer preference. Also rise in the disposable income of the Indian middle class is one of the major factors driving these trends”.

In 2009,India emerged as Asia’s fourth largest exporter of automobiles,behind Japan,South Korea and Thailand. Almost 90 percent of consumers today use the internet to research vehicles. Nearly 40% would like to buy a car over the internet,and half would purchase parts and accessories online,the main reasons being price discounts and dissatisfaction with the dealer/retailer process.