This report covers detailed analysis of the market in terms of segment, region and powertrain classification. While the small car segment shows significant growth compared to other car segments, the other areas do show potential. Each section in the report provides a brief explanation of current and future market trends and developments in the Indian used car market.
The used car business provides add-on value to car manufacturers by increasing footfall in showrooms from customers looking for good deals on new cars through exchange programs and loyalty. Indian car owners are maturing and now want to upgrade their vehicles much faster. The average period of car ownership has fallen to about five years from seven in the past decade and will likely edge towards three years as seen in developed markets, such as the U.S. and Europe.
Traditionally in India people preferred to buy and sell used cars through unorganized channels, i.e. via local dealerships and local mechanics. This market slowly started moving online 4 - 5 years ago and now the market has shifted to mobile, which has become the most preferred way to buy, sell and find used cars.
The growing interest in the used car business is primarily driven by first-time car buyers, usually young people in their first or second jobs of less than 30 years of age. The reason for such interest in used cars among this cohort is economy growth and job security concerns of young people towards hefty purchase investments.
Key Topics Covered:
1 Introduction to Used Car/ Pre-Owned Market India
2 Used Car Market Overview
3 Used Car Market Forecast by Sales Channel: Volume and Sales Value
4 Used Car Market Forecast in Top 6 Cities - by Sales Channel: Volume and Sales Value
5 Competitive Landscape
- BMW Premium Selection
- Das WeltAuto
- Honda Auto Terrace
- Hundai H Promise
- Mahindra First Choice
- Mahindra First Choice Wheels Ltd
- Maruti True value
- Quickr Cars
- Shriram Automall india ltds.
- Tata Motors Assured
- Toyota Auction Mart
For more information about this report visit http://www.researchandmarkets.com/research/kmxxdf/indian_used_car
Related Topics: Cars, Used Vehicles
Research and Markets
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/indian-used-car-market-outlook-to-2021---worlds-fastest-growing-used-car-market---research-and-markets-300320004.html
SOURCE Research and Markets