Nearly two out of five of new-vehicle buyers consider at least one other model before purchasing their vehicle, according to the J D Power Asia Pacific 2005 India Escaped Shopper Study.
The inaugural study analyses the reasons behind why buyers initially consider a vehicle, but ultimately reject it in favour of a competitive product. The study also serves to gauge shopper perceptions of vehicle deficiencies and efficiencies when compared to the competition.
The study finds that Maruti Suzuki and Hyundai are among brands most often considered by new-vehicle buyers in India.
Buyers of mid-size and premium mid-size cars tend to evaluate multiple brands, more than the buyers of small cars.
The study, which also examines the reasons new-vehicle buyers reject vehicles they consider, finds that purchasers are most concerned with price and financing-related factors.
Following price of the vehicle, the vehicle's fuel economy is the second most often cited reason for rejection.
"Vehicle affordability, both in terms of initial and running cost, is a key consideration for the new-vehicle buyer in India," Mohit Arora, India Director at J D Power Asia Pacific, said in a statement.
The study, based on responses from more than 2,000 potential customers of new cars and utility vehicles, was conducted between March and May 2005.
