Factors impacting Purchase Behaviour of Automobiles Post Covid-19

Abstract

Vehicle Purchase has been rapidly increasing and since last decade the automobile sector has been growing in double digits in India. There are several factors considered by an individual during the purchase of automobile. With the changing trend and with the pandemic situation safety has also been a key factor that adds into it. This paper tries to examine the factors impacting the purchase behaviour. Initially the literature review aims at finding out the significant variables that act as components in purchase of a vehicle. Subsequently, the paper uses statistical technique of Exploratory factor analysis ( EFA ) to club the different variables into single factor. It was found that 21 variables fall into 6 factors namely Brand trust, Socio-demographic factor, Economic factor, Product and tech factor, Psychographic & safety factor and Govt infra & policies factor