On a personal mobility drive, first-timers hit motown
Rising sales of cars and two-wheelers hide an important story about the structural change in the nature of vehicle purchases.
The share of first-time car buyers has hit almost 50% in the first six months of this financial year, a 700 basis points rise compared with FY20. The number of additional car buyers too has gone up by 300 basis points to 33%.
Mumbai: Shweta Pandit, a 47-year-old CFO at a financial firm in Mumbai, was hunting for two cars post lockdown — a replacement for her Toyota Corolla and a compact SUV for her daughter who’s starting work soon. She was clear about one thing right from the start — in the post-pandemic world, public transport was a bad option. “Given the woeful public transport in the city, there is no alternative but to look for a personal mobility option...,”