Indian cars are overpriced in the context of our purchasing power, hopefully there will be some sort of correction as we move forward,
Remember before IT the market was small limited to business people, IT has actually created a lot of demand in the economy because of relatively better wages where a under 30 professional can actually think of buying a car, others sectors are picking up driven by the demand being created in the economy by the IT sector but even in the context of the higher purchasing power Indian car prices as a percentage of yearly income are still pretty high.
Unless car makes are happy with the limited numbers generated by the business people they will have to either be more realistic in their prices, the least we can expect here is parity with prices in advanced and developed economies where purchasing power of the average individual is 10 times ours, or wait for our purchasing power to increase. |