Report – New ‘Vehicle Purchase Sentiment Index’ senses Indian auto sector recovery

Nithyanandh

Nithyanandh K,

As a toddler, those wheeled machinery fascinated me even before I knew what they’re called as! So here I’m, petrolhead by birth, Mechanical engineer by qualification and automotive reporter by profession!

The ‘Vehicle Purchase Sentiment Index’ (VPSI), a brand new term coined by India-based macro analytics firm ZyFin, measures the willingness of a customer to buy a car in the next 6 months.

As per ZyFin’s report analyzed on Financial Express, the VPSI is showing a steady increase across the country suggesting that more and more consumers are willing to invest in an automobile. ZyFin’s index has 50 as the neutral level and anything above that to be optimistic and below that to be pessimistic.

Suzuki Celerio AMT front at Geneva Motor Show
The Vehicle Purchase Sentiment Index is on the rise in the last three months.

In the month of June, the index is still in the pessimistic spectrum but on the flip side, it’s steadily recovering which indicates that more people would be forthcoming to buy a vehicle in the coming months.

ZyFin’s statistics also indicate that South India will drive the growth with the highest demand in the near future and the population from tier-II cities are more ready to drive home a brand new car compared to the metro citizens. Mumbai however, with a positive index score, is optimistic about car buying.

The stats indicate that male buyers are more willing to own a car than female buyers. In terms of age, people between 18-24 years more eager than the rest. Likewise, married people are more hesitant than singles in putting the money on a car.

As far as the auto makers are concerned, factors like change in the government, continuation of excise duty benefits and the approaching festive season are creating a positive environment for the business.

[Source: Financial Express]

Contribute to IAB
Submit Spyshots & get Bragging rights! Click Here
Custom Mods on your ride? Get it featured on IAB Submit

Maruti Swift News & Updates

2018 Ford EcoSport front three quarters right side at 2017 Dubai Motor Show

2018 Ford EcoSport showcased at the 2017 Dubai Motor Show

Maruti Swift limited edition

Maruti Swift Limited Edition launched

2018 Ford EcoSport facelift India-spec front three quarters

Ford EcoSport facelift launched in India at INR 7.31 lakhs

Indian-spec 2018 Ford EcoSport front three quarters

2018 Ford EcoSport bags 123 pre-orders online in less than 12 hours

2018 Ford EcoSport (facelift) front fascia

2018 Ford EcoSport reaches dealer yards in India

Suzuki Swift Dual Tone at IAA 2017 Frankfurt front three quarters

New Suzuki Swift heading into Thailand with Dualjet engine in Q1 2018 – Report