Showing posts with label India Pre Owned Premium Car Market Analysis. Show all posts
Showing posts with label India Pre Owned Premium Car Market Analysis. Show all posts

Thursday, October 17, 2019

Rise in Demand for Off-Lease Vehicle Expected to Drive India Pre Owned Premium Car Market over the Forecast Period: Ken Research


A pre-owned vehicle is a vehicle which has one or more retail owners. It is also known as used car or secondhand cars. It is sold through various outlets such as rental car companies, franchise & independent car dealers, leasing offices, buy here pay here dealerships, auctions, and private party sales. Some car retailers provides "certified" used cars, "no-haggle prices," and extended service plans or warranties.

The key benefits are lower customization costs, no exaggerated fees, and lower insurance premiums.
According to study, “India Pre Owned Premium Car Market Outlook to 2023 – Growth Propelled by Traction from Digital Platforms, Surge in Certified Dealership, Decline in Average Car Price and Faster Launch of New Models” some of the major companies that are currently working in the India pre owned premium car market are Cars 24, JLR, Cartrade, BBT, OLX, Maruti True Value, Mahindra First Choice Wheels, Hyundai H Promise, Honda Auto Terrace, Toyota U Trust, Ford Assured, BMW Premium Selection, Big Boy Toyz,, Mercedes-Benz Certified, OLX, Car Trade, Audi Approved Plus. The key car manufacturers are focusing on catering to the growing demands of specific demographic segments for instance the millennials.

Based on vehicle type, pre-owned premium car market is segmented into sedan, hatchbacks and SUV. Based on structure type, market is segmented into organized and unorganized. Based on vehicle age, market is segmented into 0-5, 6-10, 11-15, 15-20, and > 20 years. Based on fuel type, market is segmented into diesel and petrol. Based on size of car, market is segmented into compact size cars, mid-size cars and small size cars. Mid-size cars holds major share in market due to increase in adoption & preference of consumers to buy mid-size cars across both emerging and advanced economies. Based on propulsion, market is segmented into and electric vehicle (EV) and internal combustion engine (ICE). The electric vehicle segment is further sub-segmented into plug-in EV, battery EV and hybrid EV. In addition, based on sales channel, market is segmented into franchised, rental car companies, independent car dealers, and others.

The pre-owned premium car market is driven by increase in sales of used cars in metro cities, followed by growth in demand for luxury cars, increase in young population, shorter car ownership periods, rise in availability of credit payment options, presence of several established & regionally popular vendors, rise in digital literacy among car enthusiasts, increase in preference of two-wheeler owners to upgrade to small & compact cars, growth in import & export, rise in internet penetration in non-metro, growth in economy, increase in disposable income of the consumers and rise in online sales platforms, for instance Cars24, CarDekho and Droom. However, lack of financing & expensive financing options and standardized dealership experience may impact the market. Moreover, rise in organized & semi-organized sector is a key opportunity for market.

The India pre-owned premium car market is expected to witness higher growth rate owing to stringent vehicular emissions regulations, rise in demand for off-lease vehicle by franchise, leasing offices & car dealers and growth in demand for car subscription services over the forecast period. In near future, it is anticipated that market will be reached at fast pace due to increase in production & sales of SUV during the forecast period.

Key Segments Covered:-
India Premium Used Car Market Segmentation by Market Structure (Organized/Unorganized & C2C),
India Premium Used Car Market Segmentation by Car Made/Brand (BMW, Mercedes Benz, Audi, JLR and Other)
Premium Pre-Owned Car Dealers (MB Certified, Audi Approved plus, BMW Premium Selection and Jaguar Approved) in India
India Premium Used Car Market Segmentation by Sourcing Channel (Buy Sell, park Sell and Trade Ins)

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 Used Car Market
Used Car Demand In India
Premium Brands Used Car Market India
India Used Car Market Sale By Dealership
BMW Car Market Sales By Dealership India
Number Of Premium Car Dealers In India
Second Hand Premium Cars Industry India
Luxury Ride Preowned Premium Cars India
Used Luxury Cars For Sale In Mumbai
Number of Branches of Cars 24 India
New And Used Car Market Ratio India
BBT Sales Luxury Cars Market India

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

Thursday, September 26, 2019

Increasing Trends In The India Pre Owned Premium Car Market Outlook: Ken Research


The premium used car market in India is on the continuous increase dominating the robust growth in the last few years. The foremost cause for this double digit growth has been enlargement of the fresh car sales, inauguration of the fresh models/variants/colors/personalization, decrease in the average ticket size, establishment of the fresh sales channels and several others. Requirement enlarged principally due to the increase in the number of HNI’s & per capita disposable income. Shift in the mindset of the domestic populace for favoring utilized cars over fresh cars simplified the movement. Moreover, in 2017, the sales volume and GTV produced from premium used car sales observed foremost reduction in the growth rate due to the implication of the GST and demonetization. All the cities observed cash crunch particularly Surat, NCR, Mumbai and Bangalore.

According to the report analysis, ‘India Pre Owned Premium Car Market Outlook to 2023 – Growth Propelled by Traction from Digital Platforms, Surge in Certified Dealership, Decline in Average Car Price and Faster Launch of New Modelsstates that in the India Pre Owned Premium Car market, there are numerous key players which presently functioning more positively for leading the fastest market growth and dominating the high value of market share during the forecasted period while effectively determining the specifications of the used cars, effectively analyzing the price, increase the applications of the used cars and studying the competitors profile, key strategy and several other things includes BMW, Mercedes Benz, Audi, JLR, BBT, Cars 24, Cartrade and several others.

Moreover, based on the car brands, the Mercedes Benz is the principal premium used car seller. It has uppermost number of used car sales passages. BMW has average foremost ownership duration of around 3-4 years and is widespread in West, Central and South India. For Audi Q5, A7, A8, R8, RS7, RS5, A5 are maximum prevalent brand and has lowest ownership duration for fresh cars. Noteworthy deterioration was accounted for original car sales which has destructively squeezed the requirement for used car sales. JLR is comparatively new player in the Indian market but is debauched attaining popularity.

However, on the basis of region, the Northern India with Delhi NCR, Ludhiana, Chandigarh, Dehradun, Karnal, Indore, Lucknow and Mohali are the principal requirement pockets. In 2018, India had more than three hundred thousand HNWI’s. Southern cities principally Bangalore, Hyderabad and Chennai had the uppermost requirement in the economy. Bangalore has presented the uppermost growth potential. Other foremost regions include Kochi, Chennai, Coimbatore, Hyderabad, Vijayawada, Mangalore, Calicut, Trivandrum, and Madurai. Great concentration of foreign reimbursed executives is foremost target consumers.

In India the forthcoming for premium used car looks convincing and reproducing of customer predilection from the western regions is predicted. Leasing of cars and lower ownership duration are anticipated to have positive impression on requirement as the quality products will be obtainable at inexpensive value. Audi’s market share has deteriorated substantially is anticipated to attain some market. Fresh contestants in the electric car sectors and employment of Bharat-VI norms may reason many prevailing car owner to sell their cars affecting weakening in the average ticket size. Therefore, in the coming years, it is anticipated that the market of India Pre Owned Premium car will increase more significantly over the coming years.

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 Market
India Pre Owned Used Car Market
India Used Car Market
India Pre Owned Premium Car Market Major Players
India Used Car Market Sale By Dealership
Audi Car Market Sales By Dealership India
Second Hand Luxury Cars Market India
Luxury Ride Preowned Premium Cars India
Sales Of Big Boy Toyz Used Car Market India
Star Carz Premium Car Sales Market India
Used Car Finance By Audi India
Resale Value Analysis Of Used Car India

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