Sub-Rs 5 lakh cars shrink to just 0.3% of market from 34% 8 years ago – Times of India

by The Technical Blogs

NEW DELHI: The common man and his budget car seem to have been completely forgotten as conversations – and launches – as auto industry moves towards premium vehicles that are high on frills like sunroofs and off-roading, apart from the much-enhanced safety features.
With vehicle prices going up sharply in past few years amid claims of high commodity prices and more expenditure due to safety norms, the share of entry level cars – those priced under Rs 5 lakh – has crashed from 33.6% in 2015 to 0.3% in 2023.What auto companies don’t tell you is that they have graduated to bigger cars to earn fatter margins.
Against a large portfolio comprising several models from companies such as Maruti, Hyundai, Tata and Renault (Kwid), now only Maruti Suzuki remains in the segment – with just one model – on “near-negligent demand”.

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