In terms of demographics and regions, where is growth coming?
PAWAH: Demographically, our range is wide but we do see first-time buyers for premium cars increasing and they reflect the buying audience of the nation which is younger owners typically under the age of 45. Regionally, it’s still the major metro cities that generate volumes, although the next tier of Indian towns holds promise and is not to be ignored.
FOLGER: Delhi and Mumbai along with other key metros contribute a lion’s share to volumes, though there are pockets of growths in tier II and III cities which can mature in the foreseeable future and contribute big numbers. Even though we have been witnessing a steady decline in the overall customer age, the current average customer age is around 37 years in India, which is one of the lowest across the globe for us.
ANSARI: There is a new segment of customers moving from premium sedans to compact and executive luxury sedans and SUVs or crossovers. They are aged between 28 years and 35 years. They are also in tier II and III towns. That’s the segment we have been able to tap and we expect strong growth and market share it. We also see double digit growth from the smaller cities, but major metros still contribute the most with more than 70% of sales coming from there.