The unveiling of the Tata Nano, the world's cheapest car, has created quite a buzz in automobile markets across the globe. As industry experts wait with bated breath the arrival of the $2500 car, speculations are rife regarding its impact in the global auto industry. With competitors already joining the fray with their new low cost models, chances are that the automobile market is headed for a complete makeover.
The availability of four-wheeled comfort at the price of a high-end two-wheeler has surely left buyers spoiled for choice. It is interesting, therefore, to note what our Gen Y feels in this regard. Will they stick to their old passion for fast bikes or go in for a small car?
Talking to a number of respondents aged 18-28 in the various metro cities of India has yielded a number of possibilities. While guys were divided in their opinion, girls were mostly unanimous in support of the small car. This was predictable, considering that females rated the safety and comfort factors above style and glamor. With more and more women in the metro cities joining the job brigade, a means of personal transport has become more of a necessity than an indulgence. For many, using public transport during peak hours is a vexation. Women with late working hours have opted for the small car as a means of ensuring their personal safety. For some other women, the small car is also a symbol of status, a statement of power and emancipation in a male-dominated world.
With men, however, the scenario is a bit different. While a sizable number of the Gen Y population is impressed with the idea of a small and affordable car, there are many who are skeptic about its capabilities. Style, safety and power are the three most important prerequisites when it comes to choosing a car for men. For the wild and the adventurous, it is the feel of power that counts the most. With high-end bikes providing them with the desired adrenalin rush, many are willing to forgo the comforts of a small car. However, the situation is just the opposite with others. Young executives, typically, are ready to accept the small car as a means of elevating social status in the corporate world. In fact, more than fifty percent of the respondents voted in favor of the small car, although many among them adopted a cautious note regarding its performance.
Overall, it can be said that the concept of the small car has caught the imagination of today's youth. While some prize the thrills of riding a fast bike the most, the majority seems to be willing to settle down to the comforts of a small car. With the small car concept steadily winning over Gen Y, the automobile market seems to be set for a radical change. With the indications manifest enough, it is time for us to wait for the final verdict.
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