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Here's a rather intriguing comment from a car buyer - someone who recently bought a newly launched electric vehicle in India for a steep price.
In the words of the buyer, “Paying the full amount upfront without inspecting your car in your city, and having a temporary registration in your name before you see the car is a process that requires a lot more trust in the system than currently exists”
This may not excite customers and can also threaten India's EV ambitions
It's understandable why an experienced car buyer would feel that way about the buying process described – paying upfront for a car sight unseen with only temporary registration can indeed require a significant leap of faith, especially in a context where trust in systems and institutions can be challenged.
There are several factors that contribute to this:
Limited transparency and control: When buying without physically inspecting the car, buyers relinquish control over a crucial aspect of the purchase decision. They tend to rely on information and assurances provided by the seller, which can create vulnerability to misrepresentation or errors.
Distance and logistical challenges: The lack of local inspection adds another layer of complexity. If issues arise after delivery of the car, resolving them could involve additional time, cost, and logistical hurdles.
Unfamiliar territory: Navigating a new buying process, especially for a high-value purchase like a car, can be nerve-wracking. This is amplified when dealing with a new technology like electric vehicles, where knowledge and experience might be limited.
Demanding full upfront payment for unseen electric vehicles can be a potentially trust-damaging strategy. Especially in a nascent market like India can be a puzzling and potentially trust-damaging strategy.
Beyond upfront payments - Fostering trust in a skeptical market
Buying in the dark? Wallet weeps, eyes wait - Must customers take a leap of faith?
Well here are some ways to win over wary customers and trust-building tactics for a skeptical market:
Using transparent online platforms providing detailed specifications, virtual tours, and independent reviews alongside secure online payment options can mitigate concerns and build trust.
Be inclusive to cater to potential buyer concerns. Provide comprehensive warranties, readily available service centres, and easy access to spare parts to build buyer confidence.
Open communication, due diligence, and sharing of risks involved will be much appreciated to fuel trust.
Decision-making in the midst of many unknowns is a complex exercise. However even in the early stages of the market by focusing on the fundamentals of customer's experience Trust can be built.