Upcoming car launches and its effects on the market and insurance industry

03-11-2015 / admin / 0

Car is dream thing for all. Everyone wants to own a one. As far as, Indian car market is concerned; it has observed slackening from rural India in mid-2015. Indian market for automobile or car holds 700 variants on sale. Budgeting and buying a popular car hence become difficult. Low rainfall or water scars can be reason behind a dip in car market. Whatever the reason may be, it deduced the costs of the car and consequently its insurance cost.
Reinstating its form, car market is not observing significant hike in costing of the cars in popular category. Demand is likely to improve in the coming months due to a slew of launches by automakers. Nevertheless current market behavior is challenging for car companies to introduce new cars in, sales are likely to get boosted if the product is positively accepted and goes well with Indian buyers.
Elite i20, Grand, Xcent are the cars constituting significantly to Indian Car Market and ruling the popular category. Though, there are many upcoming launches SUV Creta, Maruti S-Cross & Baleno and Renault Kwid. These cars are likely to target middle income group as explained by the makers. This would definitely affect the cost of the cars and their insurance.
Moreover, Market will also be upgraded with self-driving autonomous cars which will get into 90% less accident than today’s human-piloted cars, consequently decreasing the Insurance premium value. However, this will take time to see autonomous cars ruling the roads. There are numerous much awaited SUV and luxurious cars which will be holding economic prices with low insurance premium suiting low income group. Now that we know about the upcoming upcoming car launches and its effects on the market and insurance industry, compare and buy the best car insurance in India.

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