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Indian automobile industry is implied in designing, exploitation, construct, marketing, and sale of automotive vehicle. There are certain amount of global automotive monsters that are cheerful just about the elaboration plans and collaboration with domestic companies to acquire cars in India. The chief car manufacturers in India are Maruti Suzuki, Hyundai Motors India Ltd., General Motors India Pvt. Ltd., Honda Cars India Ltd., Toyota, Hindustan Motors etc. The Indian automobile industry constitutes the 10th largest in the world on a yearly production of some 2 million units. Indian auto industry, anticipates getting the major automotive industry in the forthcoming yrs and the industry experts are aspirant that it will come to 10 million units.
Introduction to Hyundai company and sonata transform:-
Hyundai motor company ltd. Is existing from last 40 years and had given many heights to the automobile industry and is trying to give better automobiles with different services. The company is one of the biggest and a diversified organization. It has about 45 domestic and 254 overseas companies. By means of the varied team, they will offer dependable stewardship to our society and surroundings at the time of accomplish steadiness and safety measures at the present and for future age group. The company was established in 1996. It is a model where it can be easily seen that behind the success of the company there are Indian skills and hard working is a great combination with Korean design and technology. It has its manufacturing plant at Chennai. The company established in India in 1998 and has first launched model named santro which had made a good business in India.
Price differences for the car:-
In the first component according to hypothesis it was concluded that the price of Hyundai sonata transform will differ. And this can be proven with various examples or reasons given as follows:-
1). Sales tax:-
The first reason for price difference would be sales tax because Sales tax costs recruited on the sale of trade goods, which are acquired or imported and betrayed for the beginning. Whenever the product is betrayed subsequently without constituting refined boost, they are exempt from sales tax. Sales Tax is a leverage and sales agreement of commodity in India and is imposed under the authorization of some Central Legislation (Central Sales Tax) and State Governments Legislations (Sales Tax). The government activity imposes Sales Tax chiefly with intra-state sale of commodity. Commonwealths in addition to impose tax on dealings which are "viewed as sales" like employments abbreviates and hires. As well Sales Tax, a few states besides impose another tax, overcharge turnover taxation and the likes of. Usually, Sales taxes are reclaimed from the customer equally a contribution of circumstance for sale of commodity. Sales tax are paid up from every dealer on the sale of whatsoever commodity brought in from him in the course of inter-state trade or commerce, in spite of the fact that no liability to tax is enhanced on the sales agreement of commodity under the tax laws of the suitable state. And the sales tax is different in each and every state like in Maharashtra, Madhya Pradesh, Tamil nadu, Andhra Pradesh etc(Portal n.d.).
2). Transportation cost:-
The second reason for price difference would be transportation costs. Transportation cost is also included in the prices of the car. It has different percentage of amount in different states. This charge is incurred when the cars have to be moved from one place to another and for this the charges are included in the price of car which is to be given while purchasing a new car. It is also called as logistic charges and handling charges. For example like if Hyundai is having its manufacturing plant in Chennai and the car is to be send to indore the car has to be send by a truck and the transportation cost of that truck is included in the price of the car but at the same time if the car is to be send from Chennai to the place nearer to Chennai than the price of the transportation would be less. So that is how the prices vary from state to state.
3). Car insurance:-
The fourth reason which can say that the price of the car vary from state to state is insurance. Insurance comprises a significant prospect of the Automobile industry throughout the world. India car insurance constitutes chiefly done by different banking company and financial organization and solicited by separate automobile owners and companies. Car insurance compensates loss or damage caused to the vehicle. There are number of insurance company with different insurance policies and these insurance policies are different in each state and thatââ‚¬â„¢s the reason that Madhya Pradesh, Maharashtra, Tamil nadu and many more states have their different insurance policies and thatââ‚¬â„¢s the reason why prices vary(Dubey 2010)(Insurance n.d.).
There are number of types of methods which can be used for the research and the best one is contact method. At the time of conducting a survey it is very useful to have a direct contact with customers or the contacted person the contact survey can be done in many ways:-
1). Mail questionnaire: - it is the wide area geographical research. It can be done with the help of mail questionnaire which is the fastest way to do a research the research can be performed by mailing the questionnaire at ones mailing address. Out of 100% at least 30%of the people will reply the questionnaire.
2). Telephone interview: - a process of sampling a population through calling up its extremities.
3). Personal interview: - the best and the most important way of doing a research are with the help of personal interview by interviewing people personally. Itââ‚¬â„¢s the easy way to ask the questions directly from then people.
4). Questionnaire: -
There is modified manipulation of questioning processes. In this method, an investigator prepares a questionnaire and pops the question to people to reply the questionnaire. This is the right way to know that what people think about the product.
The method which I have applied is personal interview by visiting the showroom and having a conversation with the sales executive Mr. Ashish Kumar dubey and by the help of questionnaire.
Customer sensitivity towards Hyundai sonata transform:-
Consumer awareness constitutes that the consumer is aware of His/Her rights. Consumer awareness is a marketing condition. It implies that consumers note or are well aware of products or services, its features and the other marketing P's (place to buy, price, and promotion).
Generally commercials and advertisements gain consumer awareness.
We demand them and so we will not be misdirected by manufacturers, it explicates whenever what we buy is worth to our income. And not harmful to us and to surroundings. So in order to get a clear-cut characterization of the level of development of consumers, the consciousness is mandatory.
2. Role of producers:-
Suitable marking, total fact, wellness warnings, dealing information Etc. keep to necessities, averages, measures label products harmonizing requirements, Allowing for true informationââ‚¬â„¢s. Whenever they are offering a service they should better convey with deserved acquisition and attention.
And on this basis and according to the survey it can be said that customers are aware as they exercise about each and everything about the product they are purchasing with the help of internet and televisions. Customers get aware with the help of the advertisement about the product. As Hyundai sonata transform comes under the segment of luxury cars and has a good demand in the market. It is the best buy car having features that all the other luxury cars have with affordable price and people are aware that there are many cars with the same features but are costlier than Hyundai sonata transform and by seeing the demand of the car we can say that people are aware of the new products or automobiles available in the market.
In this report it can be concluded that by the help of methodology like personal interview, questionnaire, mail questionnaire, telephone conversation it was able to know that what people think about the cars. Learned about the extra charges like sales tax, logistic and handling charges, car insurance which are added in the price of the car and because of that the price vary from state to state. It can also be concluded that the hypothesis was proved correct and the prices vary in the automobile segment. As well as customer are aware of the new cars and features which companies are providing. Word count: - 1,428
Dubey, A., 2010. Customer sensitiveness toward price .
Insurance, I.A., India Automobile Insurance. Available at: http://business.mapsofindia.com/automobile/insurance/ [Accessed February 16, 2010].
Portal, N., Value Added Tax & Sales Tax - Taxes - Citizens: National Portal of India. Available at: http://india.gov.in/citizen/salestax.php [Accessed February 16, 2010].