Only cars with high fuel efficiency and low maintenance costs are mainly in the 100,000 rupee category, as fuel prices have risen 35% since July 2020, making car driving more and more infeasible. It is expected to attract more buyers in the country, especially for priced cars. According to a report from HSBC Global Research.
According to the report, more than 70% of passenger cars fall into the category of less than 100,000 rupees in the country, and the general situation is suitable for market leaders such as Maruti Suzuki India Limited (MSIL).
“In the last 15 months, fuel prices have risen 35%, impacting the running costs of the entire vehicle. Our channel interactions encourage customers to be more and more aware of recent fuel price increases. It suggests that it has become. “
Taking the example of the Martis Suzuki Swift petrol model, the report states that compact passenger car fuel now accounts for about 40% of vehicle life costs, compared to 30% in mid-2020. increase.
In such a scenario, he said, cars with high fuel efficiency, low maintenance costs and costs less than 10 larks would gain greater traction among buyers.
He added that Maruti Suzuki continues to be the market leader in fuel economy and total cost of ownership, both absolutely and competitively.
According to an HSBC report, MSIL has a 65% market share in vehicles in the price category below Rs 100,000.