Luxury Car Industry in India: Key Growth Drivers
Indian luxury car segment is set to see increase in luxury car sales mainly due to strong growth factors:
Today, the customer is in the driver’s seat. Luxury car Consumers are perpetually seeking brands that are offering advanced features and looks. Nevertheless customer experience remains as the most critical component that drives sales.
Luxury car industry leaders are focusing on enhancing customer service. Auto industry leaders have to become the customer experience visionaries and thereby transform their brand by engaging every customer and by optimizing every experience with each customer.
Clootrack analyzed 20,000 customer conversations online and picked out 5 key drivers of customer experience in entry level luxury cars in India. Cars today come with multiple features from superior engine to really intelligent features like autonomous driving. But what are those features customers want the most with the best perfection?
Here are the 5 Key Drivers That Accelerate Customer Experience:
1. Looks
Indian market has shown tremendous appreciation for the design and looks of cars they use. Our study found that “contemporary” and “European” looks are appreciated better by customers. No wonder Indian auto firms are acquiring European designs of late! “Smooth curves” and “retro looks” also have special preference among customers in India.
Indian customers love powerful and noiseless engine. Engine is given the second preference just next to Looks. In this segment, customers also expect the engine to be highway friendly. Having a powerful engine allows customers to flow better through traffic, climb uphill easily, higher pickup n highways and freely pass slower vehicles smoothly.
Smooth driving experience is the third most important feature customers expect in this segment. By smooth driving experience they mean smooth gears, responsive steering, and good auto transmission. Indian luxury car consumers want their cars to have great driveability which means smoothness in the vehicle’s operation at the will of the driver under all driving conditions. A positive perception of driveability includes feelings such as fast acceleration, good pedal response, precise gear shifts, and being easy to start and easy to drive.
Luxury cars are bound to have impressive premium features. The expectations of course vary from geography to geography. Customers in India are specifically interested in leather seats, beige colors, under thigh support, rear seat comfort, music system, surround sound, connected audio, touch screen interface and luxury material feel.
On road service and service availability are much sought after among Indian customers. Auto makers with low service costs are really preferred by Indian customers. After sales service experience with timely service, service availability and knowledgeable service staff can get brands extra brownie points as per customers.
Brand equity is an indicator of the company’s strength and performance, specifically in the public markets. In simple terms, brand equity describes brand value.
Brand value is determined by consumer perception, which is a combination of knowledge and experience towards a brand and its products. The perception that a consumer segment holds towards a brand directly results in either positive or negative effects.
We now know the most important features customers look for in entry level luxury cars in India. But how does each brand fare? The following is what our study says. Download the detailed report for free to get to know the brand names in the below chart. The detailed report also covers list of features that delight users and several other interesting insights.
Brand equity is an indicator of the company’s strength and performance, specifically in the public markets. In simple terms, brand equity describes brand value.
Brand value is determined by consumer perception, which is a combination of knowledge and experience towards a brand and its products. The perception that a consumer segment holds towards a brand directly results in either positive or negative effects.
We now know the most important features customers look for in entry level luxury cars in India. But how does each brand fare? The following is what our study says. Download the detailed report for free to get to know the brand names in the below chart. The detailed report also covers list of features that delight users and several other interesting insights.
Are you interested to know more about customer analysis, consumer insights, customer believes, emerging trends, and all other interesting insights into the luxury cars industry in India?