![]() ![]() Aiming to accelerate the green transition of the global transportation sector, BYD Auto focuses on developing pure electric and plug-in hybrid vehicles. Listed in both Hong Kong and Shenzhen Stock Exchanges, the company is known to be a Fortune Global 500 enterprise that furnishes innovations in pursuit of a greener world.įor more information, please visit About BYD Autoįounded in 2003, BYD Auto is the automotive subsidiary of BYD, a multinational high-tech company devoted to leveraging technological innovations for a better life. Its new energy vehicle footprint now covers 6 continents, over 70 countries and regions, and more than 400 cities. From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions that reduce global reliance on fossil fuels. Founded in 1995 as a rechargeable battery maker, BYD now boasts a diverse business scope covering automobiles, rail transit, new energy, and electronics, with over 30 industrial parks in China, the United States, Canada, Japan, Brazil, Hungary, and India. “MeetKai is proud to continue delivering on the promise of the metaverse by building bespoke experiences that bring true utility into the digital realm, this was always our vision.”īYD is a multinational high-tech company devoted to leveraging technological innovations for a better life. We are so excited to do so with BYD, a fellow industry disruptor, and this is just the very beginning, as we're ready to leverage our generative AI across all industries," said MeetKai Co-Founder and Executive Chairwoman, Weili Dai. “We're leading the pack with the next generation of immersive conversational web experiences that truly resemble the real world in a virtual space. Also on hand are AI-powered virtual consultants, ensuring personalized guidance and support throughout the customer journey. ![]() These trends are expected to create new opportunities and challenges for car manufacturers and stakeholders and will have significant top-line impact for OEMs, as they can capture higher value and margins from the premiumisation of the market, they said.ĭon’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp.In addition, through the integration of MeetKai’s advanced XR technology, BYD customers can partake in virtual test drives, which mirror the physical driving experience of these high-performance models. The Indian passenger car market is undergoing a significant transformation driven by urbanisation, income growth, technological innovation and consumer preferences, experts said. “These features are cascading from the luxury segment into the mass models, as OEMs (original equipment manufacturers) are offering more car per car to attract customers,” said Ravi Bhatia, president, Jato Dynamics. Recent research shows that customers are willing to pay a premium for advanced and hi-tech features and car companies have been enhancing product offerings to meet these rising aspirations. The variant that comes with ADAS level 2, which goes up to about Rs 35 lakh, accounts for 85% of all Tucson sales, Garg said. The Hyundai Tucson SUV was launched last year at a starting price of about Rs 30 lakh. This is expected to drop over the next few years, as it looks to launch more premium models, which includes a marked focus on SUVs such as the Grand Vitara, Jimny and Brezza.Ĭurrently, more than 50% of Hyundai’s sales comes from vehicles priced above Rs 10 lakh (ex-showroom), up from 20% in 2018.Īlso, in the last four years, the sales contribution of models priced above Rs 15 lakh has risen eightfold, said Garg, of Hyundai Motor India. The Invicto is being built by partner Toyota, which sells it as the Innova Hycross.įifty percent of Maruti Suzuki sales still comes from its small and compact cars. ![]() The company hopes the premium gloss of the Invicto will rub off on other Maruti brands, Srivastava said. ![]() Maruti Suzuki, which built its market dominance on small cars, has just launched a seven-seater MPV at Rs 25 lakh. This is a big change from the past where the comparisons were limited to price, said a spokesperson of Tata Motors, which now has over 65% of its sales in the price band above Rs 10 lakh. Today, with increasing internet penetration, social media awareness and education programmes, customers are being guided more than before by environmental impact, safety, fuel efficiency, technology, connectivity and design while buying a car.Ĭustomers now extensively research vehicles online, read reviews and compare prices. This has also led to more launches in the segment - nine this calendar year.ĭue to changing lifestyles and the rise in disposable income, at least for some, the average age of car owners has dropped. For most mass-market car makers, over 50% of sales currently is in the price band above Rs 10 lakh. ![]()
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