Monday, June 20, 2022

Key Trends in Automotive Industry - Exploring an interaction with Mr. Banwari Lal Sharma, CEO – Consumer Business, CarTrade Tech Limited

 Mr. Banwari Lal Sharma, CEO – Consumer Business, CarTrade Tech Limited to share more insights on the below-mentioned key trends witnessed in the automobile sector.  We are happy to facilitate interaction with him.


  • Preference for EVS - 33% of the respondents indicate a willingness to purchase a two-wheeler EV as their next vehicle
  • Decision to Purchase Vehicle- An increase in people postponing their purchase decision shows that the financial impact of COVID-19 is long-lasting and recovery will take time
  • Vehicle Purchase Intent - The need for 2Ws has increased significantly. 76% for 2W and 69% for 4W are thinking of buying a vehicle this year
  • Vehicle Body Type Preference - 28% of the respondents chose Hatchback and OnePlus as their preferred body type
  • Budget for Purchase - 71% of the respondents voted for a reduction in budget of at least 10%, with 18% reducing budget by over 30%
  • Ownership Preferences - Preference to explore Leasing/Pre-Owned/ Subscription models quite positive at 26%
  • Charging Infrastructure - 44% of the respondents cite lack of charging infrastructure and range anxiety as reasons for not buying EVs
  • Avenues To Finance - Increased reliance on personal savings and liquidity, as 21% wished to buy vehicle on personal savings

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