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1/9 I have purchased a car very recently. So, I went through the usual motions of a large and involved purchase at the time of my decision. This might also give you an insight into the auto sector slowdown #AutoSector #SlowDown #Economyslowdown #economy
2/9 Clean fuel vehicles are coming: Hydrogen fuel cell, & #ElectricVehicles (#BEV & #PHEV) are coming sooner than we thought. Govt envisions an electric mobility future for us & is taking a lot of steps to push EVs under #FAME2 scheme. To reduce pollution & fuel import bill.
3/9 If I buy a regular petrol/diesel car, it may get obsolete sooner than I imagined. Eg: NCR banned 10yr old #diesel vehicles to improve air quality, push towards electric. All this affects resale value of the #cars. Hence, I considered pushing the life of my current car
4/9 #BharatStage VI emission norms r coming in Mar 2020. Dilemma of buying before or after BS VI is bothering. The old BS IV inventories will have to be sold off and it’s likely that dealers will offer huge #discounts to liquidate old stocks. I wanted to wait for that. #BSVI
5/9 My Old Car was very similar to the new one, but for a #touchscreen #infotainment system. With no ‘generational shift’ over the last few years, #preowned cars are a great buy. So while new car sales r dipping, pre-owned vehicles are seeing a double-digit growth
6/9 #Millennials are now of car driving age. They have no desire of owning cars or even to drive. They are App-happy with #Ola / #Uber and even self-drive (#Zoomcar, #Myles) for the occasional weekend trip. My teenage daughter was not involved in my purchase decision.
7/9 Customers are continuing with ride sharing in a big way. Even with over 1.6Mn vehicles between them, #Ola and #Uber are seeing increase in rides and revenues over the last year. Each Ola car can potentially take 6-10 cars off the streets. #ridesharing
8/9 Impact of general elections. A smart dealer told me this. It’s generally believed that cash is sucked out of the system during general elections.All that #cash which would have gone towards indulgent purchases like cars. #LokSabhaElections2019 #Elections2019 #EconomicSlowdown
9/9 While it’s not a comfort we can draw, auto sector #slowdown is not just limited to India. It’s also seen in #Europe and #China. #marutisuzuki #tatamotors #mahindra #Toyota #ford #Hyundai #KIA #mgmotors #VW #Skoda
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