For the people unaware of the latest trend in US car market it is important to mention here that
Chicago car culture is more or less dying on YOY (Year on Year) basis. With some degree of
fluctuations in the behavioral pattern of the car users in consecutive years US car market is
essentially dwindling for sure. It is perhaps best described by the theory of diminishing returns
of scale in economics. The crux is: Gen Y is getting disillusioned for license and their
consumption patterns in terms of owning new cars have also been on down slide.
Analysts have attributed this down slide to a couple of factors such as the following.
Unstable economy: After the great depression of the 1930s US underwent the severe
blow on its economy in 2010. It will not be an exaggeration to say that the economy is
still struggling to overcome the aftermath effects completely. As a matter of fact
younger people are visiting the car dealer shops less than that of their parents while
parents were at their age. This situation can summarily be attributed to the unstable
economy and the fear factor that is still rampant there among the Gen Y in terms of
paying back the borrowed capital in addition to their study loans.
Decrease in income of Gen Y: Post 2010 Gen Y is having tough time in order to
augment more and more disposable income vis-à-vis the less flamboyant market there
for job opportunities. A new car costs anywhere between $ 32000 to $ 33000 and Gen
Y finds it tough to handle through borrowed capital.
Overall social responsiveness: There has been unprecedented awareness on global
warming alongside managing individual finances better. Most of the people including
the substantial part of Gen Y prefer to use public transport. In consequence there has
been more garage time for the personal vehicles. This in short construes to the fact
that people are driving less in US for the good!!!
On the flipside Asian people especially the Gen Y here has been increasingly making beeline at
the car dealer shops with their new found financial freedom. According to a report on
gaadi.com, in the rising economy like India people have become prone to owning SUV cars like
Mahindra Scorpio and more. . They have virtually widened the scope for world renowned
brands here and Delhi being the epicenter of activities is booming in car business. To our
understanding experience we find a couple of reasons working in favor of Delhi as one of the
hotspot destinations in India for car outlet of all the world renowned brands. Let’s explore
further.
Reasons for roaring Delhi car culture:
Delhi, the capital of India, houses the most influential people of India though some of
them might have made it as their second home. People unaware of the Indian scenario
should know that Mumbai in Maharashtra is known to be the financial capital of India
and as such the city of Mumbai plays a pivotal role in shaping India as a nation. But,
Delhi on the whole works as a hotspot destination by choice for all and sundry for its
capacity of wielding powers on pan India basis.
Delhi roads are wide enough (especially New Delhi and its adjoining areas such as
Gurgaon that came into being much later) for accommodating the luxury cars alias big sedans.
according to informal studies conducted in cities like Delhi and Mumbai People in Delhi
are prone to showing off their wealth as the mark of their status symbol. This virtually
works in favor of the people of Delhi for buying more and more premium cars without
much relevance to their usage and utility.
It would therefore NOT be an exaggeration to say that Delhi car culture is catching up fast!!!
