A STUDY ON IMPACT OF SMALL CAR INTRODUCTIONS ON THE TWO-WHEELER INDUSTRY, ANALYZING SHIFTS IN CONSUMER PREFERENCES, MARKET DYNAMICS, AND COMPETITIVE STRATEGIES

Abstract

The purpose of this research is to understand consumer’s various preferences for purchasing passenger car. Consumer preference for a product can make or break a company. If consumers like a product, it can stay around for years and sell millions in numbers. However, if consumers do not like the product, it could disappear very quickly from the market if the company cannot figure out how to fix the problem. Automotive industry is entering into a new phase of its development and evolution. It is witnessing a silent paradigm shift, the result of which will be visible in next ten years. It is. The low penetration level of cars in India coupled with rise in the disposable income of its working population has made it an attractive destination for global automobile manufacturers. Therefore it is of utmost importance for companies Indian in particular to know consumer preferences while they are buying passenger cars. Key Words: Automotive industry, consumer preferences, market, paradigm shift, passenger car.