TomorrowMakers

Today's women are empowered and self-sufficient. Let's take a look at why this is leading to women buying more cars today than men.

Why are women buying more cars today?

While Saudi Arabia may have recently legalised women driving cars, Indian roads are brimming with lady drivers. Traditionally, driving cars has been recognised as a male-dominated arena. However, more and more women are foraying into the scenario. Today, 15% of car buyers are women, and this number is only expected to rise higher in the future.

Let's look at the reasons why so many women are getting behind the wheel and buying more cars.

Changing lifestyles

Gone are the days when women were expected to cater to the needs which arise within the four walls of their home. Today, women are in the driver’s seat, holding high-ranking positions in some of the most renowned companies in the world. This shift in lifestyle requires them to always be on the go. This is why they’ve taken it upon themselves not just to drive their companies to bigger profit numbers but also to drive themselves everywhere.

Increasing self-sufficiency

With women balancing family and career flawlessly, the dependency on their spouses or guardians has drastically reduced. The modern-day woman is earning her own money, building her own investment portfolios, travelling solo, and shouldering all the responsibilities alone. This has led to a high level of self-sufficiency and is reflected in her approach to everyday tasks. This includes purchasing and driving her own car.

Related: 5 Things to consider when buying car insurance for women 

Increased earning power

The tides are changing in favour of women. They are being encouraged to stay in school longer, learn additional skills, shift to metro cities with better employment opportunities, and to put their careers as a top priority. As a result, the number of urban working women earning a regular wage and occupying salaried positions has increased from 28.5% in 1994 to 43% in 2012. Such factors positively affect the earning potential of women, and it is this increase that’s catalysing them to leverage their own funds for money-intensive purchases.

Easier driving with practical models

While the stereotype of women being bad drivers is completely wrong, there are certain cars that better fit the lifestyle and driving habits of women. For instance, cars with automatic transmission make city driving a breeze, and the ones with bigger boot spaces are perfect for carrying everything.

Affordable car loans

Given the changing lifestyle and self-sufficiency that women boast of today, having a personal car is an absolute must. However, with high rates, it may not always be possible to buy one at full price. Today, car loans have become widely available with many lenient norms, making it accessible to all earning classes. 

Today, with the amount of time we spend travelling, cars have become the third living space. Take a look at the 7 ways in which can help women save effortlessly for their first car. With the shift in earning power and lifestyle, it’s no surprise that women are not shying away from getting behind the wheels! 

How I did it

Rahila Khan
Homemaker

I am a single mother of one. I lost my husband just 5 years into my marriage. Life has been a struggle for me, but I have managed it and today I have no complaints. 

I was a young widow with a 3 year old son when my husband passed away due to a heart attack. My parents were my rock… Read more

Piya Sharma
Chartered Accountant

I am a CA by profession. As my training has taught me, investing is a big part of my financial strategy. I am slightly risk-averse and invest heavily in mutual funds, FDs and ULIPs. I stay away from the stock market. 

As the household expenses are taken care of by my husband, I use most… Read more

Rajesh Singh
Corporate Executive

Growing up I did not have much other than the bare necessities. Though my mom tried her best, she could not fulfil our wishes. I always knew I had to study and improve my life. Today, I own a bike, a car and my own humble house. This has only been possible because of my prudent wife.

We… Read more

Suraj Chandwani
Gas Station Owner

I like to work hard and live a good life. I want to give the best to my wife and son, as well as my parents who live with us. I own a gas station in the suburbs of Mumbai. I had taken a loan to set up my business. So a major chunk of my earnings goes in repaying the loan. I also have a car loan… Read more

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