The rapid spread of the COVID-19 made the automakers face a lot of hardships. The BS6 emission norms deadlines have been extended. As we all know, the previous Auto Expo conducted in 2020 introduced a bunch of cars that were all set to be launched in March or May. With this in mind, the companies had to adjourn the launch to June. With that being said, the habits of people buying cars will also be changed. The production houses of the company are closed, the footfall of the showrooms is zero, and most of the events are canceled. However, the companies are digitally conducting the events. In fact, even before the lockdown, automobile dealers association footfalls dealerships has been declined to 45% by March.
Online Buying
The majority of the OEMs already have an online car-purchasing platform. The vast impact of the coronavirus on the behavior of the consumer will make OEMs consider more in changing nature the way they interact with its users. It is being said that an integrated phygital online platform with a live salesperson will become the crucial criterion success in order to tap their consumer segment.
Economic Sentiment
As per the Confederation of Indian Industry, “Significant of the lockdown due to corona outbreak made 52% of companies foresee job losses. The cost of the vehicles will be 10 to 12% higher due to BS6 emission norms. With that being said, people will not consider upgrading to other cars because of the higher cost.
Shared Mobility
You will be able to witness a short-term switch in owning the cars. People who earlier preferred the shared mobility will now consider buying cars; it could be new or an old car. The thought of social distance will impact the mind of people for some quarters. We can expect to see a considerable decline in shared mobility. But, it totally varies on the section of the consumer.
