Wider product options and young buyers main reasons
Till the nineties, Indian consumers kept their cars for life and even passed them on to the next generation. By 1998, fidelity levels had dropped to seven or eight years. Today, independent studies by car manufacturers show that car owners are dumping their cars for a new one every three years.
The prime reasons for this change are a drop in the average age of the buyer, and the wider product options available to him.
