Prevailling preferences of brands of care among young adults

Abstract

The Pakistani automobile industry is of a great importance as the past couple of years have been a turning point in the Pakistani automobile sector. In 1999 - 2000 it suffered negative growth of a drastic 24 per cent owing to tax demand, in the years to follow it has developed to an extent that in 2004-2005 consumer demand has surpassed the available production capacities. This research has been done to study the automobile industry of Pakistan, especially in the context of the choice of youngsters for different brands. The attitude youngsters have is normally different from what people of other ages have. They generally are believed to be trendier and more image conscious. They are very much concerned about what they wear and what they own. Car is among one of the possessions that is used publicly, so its very much important that it goes with the personality and other traits of the individual who possesses it. Car is a high involvement product and not everyone can afford to have one, or have exactly of his own choice. Thus the choice is determined by the affordability and other personal preferences of the individual. Car manufacturing industry has seen rapid changes in the last few years. The competition has increased manifolds and the choices consumers have thus are also much more. Previously the market was dominated by the brands like Toyota and Suzuki, but new brands like Chevrolet and Hyundai are taking up the market share from Suzuki. Consumers also are now more aware of the technical features. They now-a-days demand much more than just a generic transportation machine. Now the era has changed where the fast expanding world market calls for maximum effort for quality and efficiency. To sum it up automobile industry can ascertain sustained growth as there is a growing demand from local consumers coupled with a growing economy and consumption as well as a potential to export in foreign markets. If developed its benefits would easily percolate to the lowest strata as its world’s largest employment generating sector. The future of this ‘Industry of Industries’ can be quite promising for the overall economy provided that there is political stability, a balance between production levels of vendors