Sunroofs to air purifiers, auto majors target an emerging segment: 30-minus | Auto & Travel News,The Indian Express
An analysis of information shared by car companies show a quarter of their sales coming from this segment -- an increase of about 5 percentage points over about three years.
The management admitted to having apprehensions but said the model had turned into a runaway success with massive demand triggered by youngsters, Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said on the sidelines of a recent event.
From sunroofs to connected technology, from air purifiers to high-end music systems, as well as the continuing demand for SUVs, the passenger car industry is sharply adjusting its focus to cater to an emerging segment: buyers under the age of 30.
An analysis of information shared by car companies show a quarter of their sales coming from this segment — an increase of about 5 percentage points over about three years. Maruti Suzuki, Hyundai Motor and Tata Motors, which cumulatively constitute about 70 per cent of the total passenger vehicle sales in the country, have all reported a healthy response from buyers below the age of 30.
For Maruti and Hyundai, the contribution from this segment to overall sales is about 23 per cent each while for Tata Motors, nearly 30 per cent of sales come from buyers under 30.
This tilt in buyer profile has led to an increase in SUV sales — mainly compact SUVs, which are less than 4 metres in length.
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