Consumer preferences combined with their budget culminates into final purchase which the automobile industries need to
tap. The paper evaluates a Engel-Coleman-Blackwell model through which consumer preferences can be determined which
is a four stage process of Input, Information, Decision process and variable Influencing. In the next segment, methods of
estimating consumer preference is discussed including survey and its limitation as well as Revealed Consumer preference
which gauges the preferences in retrospect after the choice has been made. Using the latter, the paper analyses the consumer
preference in Electric car segment, technological innovation, high priced small car segment, diesel-petrol preference and
body style. At the end, paper does a case study on Toyota Kirloskar cars to find out the consumer preference regarding
particular features on comparing Toyota with other companies and itself by the criterion of sales. The paper concludes by
stressing on the enumeration of consumer preference for successful decisions on product designs, branding and distribution
and focus on predicting it to an extent with the consumer research activity which is indispensable to satisfy the consumers in
the long run.