Assignment OF

Consumer buying behavior for luxury Cars

Submitted To: Mr. Kamldeep singh

Submitted By: Amit kumar MBA-3rd Semester 10-103

Introduction:A Luxury car is a styled, luxurious automobile intended for comfort and satisfaction of its owner or driver,sacrificing passenger space, cargo capacity and other practical concerns for the sake of style. The luxury cars are very expensive and its price range is above Rs 20 lakhs. Hence these cars are affordable and are preferred by high income group. Luxury cars have the capacity to carry at the most 6 passengers. The companies like- BMW, Daimler Chrysler, Porsche , Rolls Royce manufacture these cars and companies like -Aston Martin and General Motors are still planning to launch their models in the market under this segment.
LUXURY CARS

COMPANY
Chevrolet Chevrolet Mercedes Cars Hyundai Motors Mitsubishi Audi AG

MODEL Chevrolet Corvette Chevrolet Camaro Mercedes CLS Class Hyundai Santa Fe Mitsubishi Lancer Evo X Audi A6 Limited Edition

VARIANT

BMW

BMW Z4 Roadster 2009 BMW BMW-3s BMW-5s

BMW 530i BMW 760Li

New BMW 5 Series Sedan BMW 5 Series Sedan BMW 5 Series Security BMW 6 Series Coup BMW 6 Series Convertible BMW 7 Series Sedan BMW 7 Series High Security

BMW-6 Series BMW-7 Series BMW X3 BMW X5 BMW-M

BMW M3 Coup BMW M3 Convertible BMW M5 Sedan BMW M6 Coup


Bentley

BMW M6 Convertible Bentley Arnage T Bentley Arnage R Bentley Arnage RL Continental GT Continental Flying Spur

Bentley Arnage

Bentley Continental

Fiat India

Fiat 500

Lamborghini

Lamborghini

Murcielago Gallardo Gallardo Spyder

Mercedes Benz

Mercedes Benz E Class Cabriolet Mercedes Benz S-Guard Mercedes Benz E250 Mercedes Benz

Mercedes Benz C class

o o

C 200 Kompressor Mercedes-Benz C 220 CDI

Mercedes Benz Cl class

o o

CL 500 CL 600

Mercedes Benz Cls class Mercedes Benz E class

o o o
Porsche

E 280 E 200 Kompressor E 280 CDI

Mercedes Benz S 350 L Mercedes Benz ML 350

Porsche Panamera

Porsche

911 Carrera 911 Carrera S Cayman S Boxster S

Rolls Royce

Rolls Royce Ghost Rolls Royce Phantom V 12

Phantom Coupe

Volvo Volvo

Volkswagen

Volvo V70 New Volvo S80 Volvo S80 Volkswagen Phaeton Volkswagen Beetle

Opportunities for the luxury car market in India:Since the early 1990s when economic reforms were made, India has emerged as the second largest automobile market in the world, in terms of sales volume. Today, when most of the economies are still suffering the after effects of the economic downturn, India is witnessing a strong growth in the sales of luxury cars every quarter. After nearly 30 years since the launch of Maruti 800, the Indian car market has entered a new growth era where the country is projected to be on course to become the largest luxury car market in the world. With the number of millionaires in India growing at around 20 per cent annually, all the luxury car makers such as BMW, Audi and Mercedes are looking at India for their future growth and expansion. The total market for luxury cars was close to 18,000 units in 2010, and is projected to double in the next two-to-three years period if the current lower duty regime survives. The report titled Opportunities in the Indian Luxury Car Market provides a succinct but deep dive analysis of the current status and overall growth prospects of the Indian luxury car sector. Studying all current market dynamics in details, we have presented a logical analysis of the present and future growth potential of the segment. The sales in the Indian luxury car market have been studied by categorizing it into two segments: Luxury car sales in volume terms and luxury car sales by manufacturers. The research specifically probes into how the introduction of auto financing services by various luxury car manufacturers is driving growth in the countrys luxury car sales. Opportunities in the Indian Luxury Car Market is an outcome of comprehensive research and analysis of the Indian luxury car sector. The research team has attempted to identify various factors that are helping India to emerge as the leading luxury car market in the world. The report also analyses the impact of the union budget FY 2012 on the Indian luxury car market. The competitive landscape of the sector has also been mapped and attempt has been made to shed light on the operations/strategies of key players. Thus, the information available in the report is expected to enable the target audience in understanding the contemporary industry scenario. Key findings in the report include: - A change in the definition of completely-knocked down (CKD) car announced in Union Budget FY 2012 is expected to play a negative role in the future growth of the countrys luxury car segment. The change in definition will impose an import duty of around 60 per cent on these cars which will increase their prices by approximately Rs 8 lakhs per car. This

in-turn will have a direct impact on the sales of entry level luxury cars in the country. - The auto companies in India are increasingly focusing on developing their own financing arms with an objective of providing easy financing and removing cost barriers from the customers mind. Audi for instance believes that by offering loans to potential consumers in India, will help it to increase its sale by almost 50 per cent in 2011.

The buying process involves the following steps:

Need Recognition

Information search

Evaluation

Decision

Buy

Post Purchase Dissonance

Dissatisfaction = Brand Rejection

Satisfaction = Brand Acceptance