Most consumers have been upgrading from the base model when purchasing cars. They are increasingly willing to pay extra to dealers for additional features, based on their needs and budgets.
Most aftermarket sales of in-car entertainment come from consumers upgrading features and accessories in their cars. Demand for upgrading in-car speakers grows is greater than that for in-dash media players and in-car navigation systems.
Pioneer Corp retained top position in in-dash media players in 2018, followed by Sony India Pvt Ltd. It also has a sizable share in in-car speakers, though Sony India Pvt Ltd is the leader in this category.
Though there is a rise in affluence among Indian consumers, they still tend to be price conscious and seek value. Purchasing a car is a substantial investment, and a sizable group of consumers opt to minimise spending by installing accessories which are economical.
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This industry report originates from Passport, our Consumer Electronics market research database.