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Pressnews.biz (Press Release) Jan 10, 2014
-- Organized Sector offering Certified Used Vehicles at Competitive Rates to further Intensify Growth in India: Ken Research
In tandem with the escalating growth of the car market in the country, used car sales have also showcased inclining trend over the last few years. With car makers focusing on used-car business in India, the percentage buyers of new vehicles considering buying pre-owned vehicle during their shopping process increased has inclined by 10% in the past 3 years. The major automakers in the country have been increasingly focusing on the used-car business in India, specifically with certified used cars which come with a manufacturer warranty. Additionally, automakers have also focused on transparency through their websites that provide real time information on used vehicle inventory and price information.
The entry of several international players in the market has aided the used car market growth over the last few years. The organized sector of the market which has been offering certified used vehicles at competitive rates along with finance and insurance availability and warranties and service guarantees, is expected to gradually favor the growth of the used car segment of the industry in the coming years as well. With the demand for second hand cars continuing to outperform the supply, Original Equipment Manufacturers (OEMs) have been witnessing immense opportunities in the business.
The future of the used car market in Indian seems to be optimistic with the organized players playing a key role in the industry growth. There has been considerable growth in the used car industry in the country in the last few years, compared to the new cars segment. With greater number of people choosing to buy second-hand cars instead of new ones, the used car sales volume in India is likely to get more than double by FY’2018. The market in India is expected to showcase a CAGR of 17% in volume terms over the period FY’2013-FY’2018.
“The easy access from the comfort of a consumer’s home, user-friendliness, content and research quality of these websites and the guarantee that the consumer will get the best deal are some will continue to aid the popularity of online auto portals among users in this market”, according to the Research Analyst, Ken Research.
The report titled “India Used Car Industry Outlook to 2018 – Shifting Focus of Key Automakers on Used Car Business” provides detailed overview on used car market in India and help readers to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, used car companies, marketing companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.