MAM
Automotive brands struggle to differentiate themselves in India
MUMBAI: The automobile industry of India has always been a favourite among consumers, but according to the recent JD Power Asia Pacific 2014 India Brand Influence and Positioning Study (BIPS), very few automotive brands in the intensely competitive India passenger-car market are able to establish a distinct position in car buyers’ minds.
In India, brands with the highest brand influence scores (on a 1,000-point scale) are Maruti Suzuki (837), Hyundai (758), Toyota (729), Honda (723) and Tata (703), while Mitsubishi (565) and Fiat (586) are amongst brands with the lowest influence.
According to the study, strong brand influence may have a positive effect on purchase intent for a particular brand, as brand influence scores correlate highly with brand consideration rates. The study also segments the market using psychographic, demographic and behavioral attributes to help automakers identify and understand who their best prospects are in the new-car market.
“Brand image and reputation have gained significant importance over the last five years for consumers in the Indian auto industry and are key purchase criterion,” said JD Power Asia Pacific Singapore executive director Mohit Arora. “Brand Influence scores measure the impact a brand has in the market, which is critical for automakers to track and measure,” he aaded.
As per the report, in the Northern and Eastern regions of India consumers in India have substantial difficulty distinguishing between many of the larger European and US automotive brands such as Fiat, Ford and Renault. In contrast, Japanese brands, such as Honda and Toyota, are able to more effectively differentiate themselves from other brands.
Despite its Japanese origin, consumers view Maruti Suzuki as an Indian brand, less modern than other brands but distinctly positioned as offering affordable and fuel-efficient cars. Similar to Maruti Suzuki, Tata is also seen as a brand primarily positioned on affordability and fuel efficiency.
Consumers in India perceive these Japanese brands to be more contemporary, offering the latest technology and engineering and perceive them to have a more global image than their European, Korean and US counterparts.
Explaining the brand positioning, Arora elaborated, “Understanding their current positioning relative to the competition from a consumer’s perspective as well as the type of messaging themes that appeal most to a target segment helps automotive manufacturers sharpen their marketing efforts. Generally, consumers are able to differentiate more effectively on vehicle features they can see, touch and feel than on intangibles.”
The 2014 India Brand Influence and Positioning Study is based on interviews with 8,009 car owners who have owned their vehicles from 30 to 42 months and who were asked to compare two vehicle brands. The study was fielded from January through April 2014 across 30 cities in India, a period when Indian car industry was at an all time low in sales and spirit.
When you plan to apply for a personal loan, one of the first things that comes into focus is your credit score. Many people hear about it but may not fully understand how much influence it actually has on the application process. In simple terms, a credit score reflects how responsibly you have managed credit in the past.
It acts as a snapshot of your financial behaviour over time. This score plays an essential role in deciding personal loan eligibility and how smoothly the application moves forward. Being aware of how your credit score impacts the process can help you prepare well before applying for a personal loan.
Below are a few ways your credit score can influence personal loan approval.
1. It plays a key role in personal loan eligibility
Your credit score is often one of the primary indicators used to evaluate personal loan eligibility. A strong score of usually 750 and above reflects a history of paying dues on time and managing credit responsibly. This financial track record helps show reliability when applying for a personal loan.
On the other hand, a lower credit score might indicate missed payments or higher credit usage in the past. Because of this, the credit score becomes an important starting point in assessing whether an applicant meets the basic eligibility conditions.
2. It reflects your repayment behaviour
Your credit score is built from your previous financial behaviour, particularly how consistently you repay borrowed money. Timely payments on credit cards, loans, and other credit facilities contribute positively to the score.
When your repayment record shows consistency, it suggests that you manage financial commitments in a responsible manner. This positive history can support your personal loan eligibility and make the loan application procedure smoother.
3. It may influence loan terms
A good credit score does not just help with loan eligibility; it can also influence the overall terms linked with a personal loan. Applicants with stronger credit profiles might find that the available options are more flexible.
Since the credit score reflects financial reliability, it can shape how the loan structure is offered, including aspects such as repayment tenure or borrowing limits. Maintaining a healthy credit score, therefore, plays a vital role in shaping the borrowing experience.
4. It affects the speed of the approval process
Applications supported by a strong credit score often move through the process more smoothly. When your credit history clearly shows responsible credit usage, fewer clarifications may be required during the evaluation stage.
This can help speed up the approval timeline for a personal loan. In contrast, if the credit history contains irregularities or gaps, the review process may take longer, as additional checks may be required.
5. It encourages responsible financial habits
One of the most valuable aspects of a credit score is that it encourages responsible financial behaviour. Being aware that repayment history directly influences personal loan eligibility often encourages individuals to manage their credit more responsibly.
Simple habits such as paying dues on time, avoiding excessive borrowing, and maintaining balanced credit usage can gradually improve the score. Over time, these habits build a strong financial profile that supports future borrowing needs.
Ending note
A credit score may seem like just a number, but it carries significant weight when applying for a personal loan. It reflects your financial discipline, repayment history, and overall credit management.
By maintaining good credit habits, you not only strengthen your personal loan eligibility but also make the borrowing process smoother and more predictable. In the long run, a healthy credit score becomes more than a requirement; it becomes a reflection of consistent and thoughtful financial management.
