Google Querimetrix?s machine-learning algorithm identifies the most relevant factors for nowcasting, doing away with human intervention and its accompanying biases. To identify relevant factors, the algorithm uses more than 400 possible predictors as well as Bayesian inference to overcome spurious correlations.
The Highlights of Indian passenger car industry on Google are as under.
Consumers are simultaneously assessing cars and their financing options online. The effect is visible as car loans are increasingly being sourced outside dealerships. This trend can eat into financing margins earned by dealers and hurt profitability.
Hyundai's digital strategy for its compact cars shows promise even as its mid-size offering loses out to Honda City and the Ciaz. However, it would be interesting to monitor Honda?s position due to taxi aggregation, SUVs and the Suzuki Ciaz in the premium sedan category.
Maruti Suzuki Baleno has been the most successful car launch in recent times as far as digital inquiries are concerned. It seems to have eclipsed most car launches in terms of search-share and is mirroring the buzz seen during the Ford Ecosport launch in 2013.
The Indian car buyer is no longer satisfied without a digital detour?for the urban Indian at least. The consumer?s direct online access to financial products and used cars can fundamentally alter the ground rules for vendors of cars and allied products and services. Strategies across the value chain will need to adapt, and keep adapting.
