FACTORS AFFECTING SALES OF PASSENGER CARS

Abstract

Economically and demographically, India's car industry is well-placed for development, servicing both domestic needs and, progressively, export demands. An anticipated increment in India's working-age population is probably going to help simulate the blossoming market for private vehicles. Rising income levels, easy access to funds and increasing affordability is expected to see four-wheelers picking up volumes, albeit two wheelers will remain the primary choice for most of the buyers, especially from the rural regions, the youth market and women. In India, some consolidation and partnerships are expected, driven by the requirement for need for better innovation, production facilities, services and distribution systems. The components market is in a solid position to capitalize on India's cost efficient, productivity and globally recognized engineering capacity. As the advantages of collaborations become increasingly obvious, super-specialists may rise in which each car is treated as a framework, with each expert concentrating on a sub-part, similar to the IT industry. Despite the fact that this methodology is radical, it could demonstrate a significant advance in reducing unpredictability and investment requirements, with growing standardization and fulfilling client needs. Producers are as of now preparing for the future: early advocates of technological and distribution partnerships have yielded by and large positive results, empowering local/domestic OEMs to access global technology , and allowing them to develop their ranges with fewer financial risks. Conclusion: Current low car penetration, rising success and the increasing affordability of private vehicles offer a sound forecast for the Indian car industry. The companies profiting most from this changing landscape will be those who forge well thought out partnerships and resource-sharing agreements, who prepare well for the green technologies, and who stay adaptable to respond to the twin needs of private light transport and mass transport plans. The aim of this research is to study various factors that directly or indirectly impact the sales of passenger cars in India .Also to understand the buying behavior of consumers and how that affects the market share of different brands