How is the India
Pre Owned Premium Car Market positioned?
Market Growth: The market
registered a CAGR of ~ % and ~ % on the basis of GTV & volume respectively
during 2013-2018. This has been due to expansion of new car sales, launch of
new models customizations, decline in average ticket size, introduction of new
sales channels and others.
Threat of New Entry: As the
luxury car market gets more lucrative, other foreign players are expected to
enter the market. Companies need to work on maintaining its reach so that the
impact of market entry by other major known brands may not impact its market.
Demand expanded primarily owing to rise in the number of HNI’s &
per capita disposable income. Change in mindset of domestic population for
favoring used cars over new cars also facilitated the shift.
Moreover, the crunch in terms of easy credit (cash) has led to
customers postponing their decision to buy pre-owned cars, leading to a fall in
volume. ~ % dealers are now required to bear a higher tax burden under GST in
comparison to old VAT structures. This has also pushed the demand for car
financing.
India Premium Used Car Market Segmentation
By Average Ticket Size, 2013-2018
The market witnessed a gradual
decline in the average ticket size registering a CAGR of ~ % during 2013-2018.
Average price of premium vehicle is around INR ~ lacs higher in the organized
network owing to certifications involved, one stop solution for RC transfer,
insurance transfer, financing, warranty offered, genuine spare parts along with
premium services extended. The prospective customers have shifted their buying
decision towards premium used car, instead of opting for a new car.
By Market, 2018-2023
The market has been captured
by the unorganized players contributing more than ~ % of the entire sales
volume in 2018. Similar trend is expected to continue in the future with a
minute dip witnessed in favor of organized market space. The organized sales
volume is expected to showcase growth at a very strong CAGR of ~ % while the
unorganized sales volume will grow at ~ % during 2018-2023.
By Car Brand/Make, 2018
Mercedes Benz has been the market leader in terms of sales volume
capturing highest sales share in new & used premium car segment in 2018.
BMW has been the second contender in respective markets in 2018. Although
Mercedes Benz’s average ticket size is higher than BMW, its excellent service,
elated car experience & regional expansion has contributed to these
numbers.
India Pre Owned Premium Car Market Future
Projections and Outlook to 2023
Future Trends in India Pre
Owned Premium Car Market
Entry of New Player in Online and Offline Retailing
Higher Auto OEM’s Involvement in Promoting Car Business
Availability of Innovative Purchase Options
Shift of Regional Focus to Tier 2 and Tier 3 Cities
Retail Network Expansion
Sales of Electrical and Hybrid Cars
Technological Innovation
Key Target Audience:-
Online Auto
Listing Websites
Premium Car
Companies
NBFCs,
Insurance Companies and Banks
Used Car
Dealers
New Market
Entrants
Time Period Captured in the Report:-
Historical Period: 2013- 2018
Forecast Period: 2019 – 2023
Companies:-
BMW
Mercedes
Benz
Audi
JLR
BBT
Cars 24
Cartrade
Key Topics Covered:-
India Pre Owned Premium Car Industry
India Pre Owned Used Car Market
India Used Car Industry
India Pre Owned Premium Car Market Revenue
Used Luxury Cars For Sale In Mumbai
Number of
Branches of Car Trade India
Used Luxury
Car Market India
Used Car
Finance By BMW India
Resale
Value Analysis Of Used Car India
Dealer
Sales Luxury Cars India
BMW Pre
Owned Premium Car Market Sales India
India Used
Car Market Sale By Dealership
For more information on the research report,
refer to below link:-
Related Reports:-
Contact
Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
No comments:
Post a Comment