CONSUMER PREFERENCE TOWARDS LOW SEGMENT CARS

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Date
2019
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Department of Business Studies Joseph School of Business Studies& Commerce Sam Higginbottom University of Agriculture, Technology and Sciences, Allahabad (UP)-2019
Abstract
India has one of the largest automobile industries in Asia .The automobile industry in India is the 4th largest in the world with the sales increasing 9.5 per cent year-on year to 4.02 million units (excluding two wheelers) in 2017. It was 7th largest manufacturer of commercial vehicles in 2017 India is expected to overtake China as the world's fastest growing car market in terms of the number of units sold and the automotive industry is one of the fastest growing manufacturing sectors in India. Companies today are becoming customer centric & highly focusing on satisfying their customers as they realized that in present cut throat competition, satisfying & delighting the customers is very crucial. Because of the constant change in needs, expectations and lifestyle of customers, most of the companies are in dilemma that how to satisfy the customers and which strategy should be adopted. The same problems have witnessed by Indian automobile industry. The present study throws light on various factors related to consumer behaviour & satisfaction. The objective of this research paper is to know the preferences and opinions of customers regarding after sales service, resale value, fuel efficiency, safety comfort, design and brand name along with customer preferences while buying low segment cars The basic objective of the study is to evaluate customer satisfaction ,customer perception and the ranking with respect to maximum satisfaction of consumer preference towards low segment cars .For the understanding of Indian Auto Industry, Indian companies viz Maruti Alto, Chevrolet Spark, Hyundai Santro, Tata Indica, Ford Figo, Toyota Liva, Honda brio, Nissan Micra, Volkswagen Polo have been studiedThe present study is descriptive in nature & convenient sampling technique has been adopted for selecting the consumers. The primary data has been collected with the help of structured questionnaire. This study reveals that Hyundai Santro is the most preferred car in this segment followed by Maruti Alto and Ford Figo jointly second followed by Volkswagen Polo, Tata Indica, Toyota Liva, Honda Brio and Nissan Micra. Whereas Chevrolet Spark is the least preferred car among the consumers. It is also reveals that purchasing of car is strongly influenced by the advertisements and secondly by family and friend’s recommendations. Mileage, safety and comfort are the most important criteria in the selection of car. Space/Interior design and Brand name are least preferred criteria. At the same time companies must pay attention to fuel efficiency, warrant, after sales services and availability of accessories too. The study concluded that customer satifaction plays a very important role in determining preference towards buying car.
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