Nielsen Report recently concluded that young males in the age bracket of 25-35 years, earning over INR 60,000 are most likely to opt for top-end variant cars.
Studying these top-end variant car buyers it has been found that 67% are male buyers while female buyers comprise the other 33%. These buyers are all young and successful earning upwards of INR 60,000, and in the age bracket of 25-35 years. Called “Super Consumer”, 40% of them have more than one car.
Among buyers in this segment of top-end variant cars, it was again found that 40% buyers opt for sedans while 36% prefer MPVs and the balance 35% opt for hatchbacks. Buyers are also most likely to reside in metros across the country and are either on their way up in the corporate ladder or are already well established and successful businessmen.
Besides showing preference for top-end variant cars, these are the same category of buyers who opt for everything that is in the premium segment be it fashion accessories, footwear, apparel or holidays abroad. Most luxury brands in the country cater to this segment of society, be it suitcases by Louis Vuitton and custom jewellery by Cartier.
The market for top-end variant cars and other luxurious items is getting wider with each passing year and though the auto industry saw a decline in the past couple of months, it is now showing signs of a revival and a noteworthy increase in sales.