The online used two wheeler market has been emerging with the rise in the popularity of e-commerce platforms in the country. Online platforms such as Flipkart, Amazon, and Snapdeal have enabled Indian users to trust online platforms and make high-value transactions online using their debit/credit cards and net banking. The growth of online advertising, which has fuelled the rise of online classified platforms such as Droom, OLX, Quikr, and others has revolutionized the way in which pre-owned vehicles have been sold in the country. The online used two-wheeler market grew from INR ~ Crores in FY’2018 to INR ~ Crore in FY’2020. With the growth in the number of vehicles sold online, these players not only witnessed a sharp growth in marketplace revenue but also from other sources including advertisements, subscriptions, and other value-added services.
Comparative Landscape In India Used Two Wheeler Market
India used a two-wheelers market competition structure that was observed to be highly fragmented with the presence of a large number of local dealers, small mechanics, and individual sellers, thus making ~ % unorganized market space in the FY’2020.
~ % of the used two-wheelers market in terms of sales volume was observed to be unorganized which comprises individual sellers, local mechanics, and small dealerships. Whereas the remaining ~ % of the market constitutes the organized players such as Droom, Honda Best Deal, CredR, BikeDekho.com, Mahindra First Choice Wheels Limited (MFCWL), and others. Certification and authentication, brand, price, mileage and performance, engine quality/power, and a total number of dealers are some of the critical parameters on the basis of which companies compete in the organized segment.
Franchise Model
Need for Franchise Model: Widening Reach à Automotive companies focusing on expanding reach (online & offline) for customers to access the branches near them & therefore connect better. With demand increasing from Tier 2 and Tier 3 cities, it becomes difficult to establish showrooms therefore franchisee model becomes more cost-effective
Impact Of COVID On India Used Two Wheeler Market
A sudden spike in demand post lockdown can be attributed to consumers shifting from market segments of new bikes/shared mobility to used vehicles; majorly observed in Tier 1 & Tier 2 cities. While a surge in demand was seen during Unlock 1, an increase in supply was not seen Owing to cash crunch, people retained their vehicles thereby avoiding shifting to new vehicle purchase for a while
India Used Two Wheeler Market Future Outlook And Projections
India Used Two Wheeler Market is expected to grow in the coming years as used vehicles are much cheaper to purchase than a new one, since the introduction of BS-VI Standards. Projections for the future suggest that the overall market for used two-wheelers in India is likely to showcase a vibrant growth from ~ million units of sales volume in FY’2020 to ~ million units of sales volume in FY’2025. Individuals mostly in smaller cities and towns who wish to own a vehicle begin with buying a second-hand two-wheeler to get hold of it. Similar is the case of women drivers who prefer purchasing a pre-owned vehicle to learn driving before they actually purchase a new vehicle.
Key Segments Covered in India Used Two-Wheeler Market, FY’2020: -
By Type of Market
Organized
Unorganized
By Sales Channel
C2C Channel
B2C Channel
By Source
Domestic
Imports
By Modification
Stock Piece
Customized
By Type of Bike
Motorcycles
Scooters
By Engine Capacity
100CC-110CC
125CC-135CC
150CC-200CC
By Replacement Cycle
2 years-4 years
3 years-5 years
5 years - 6 years
By Certification
Certified
Non Certified
By Financing
Financed
Non Financed
Key Target Audience
Two Wheeler OEM’s
Two Wheeler Dealers
Online Portals (Aggregators/Marketplace Platform)
Online Classified Platforms
E-Commerce & Hyperlocal Companies
Private Equity Investors
Time Period Captured in the Report:
Historical Period: FY’2015-FY’2020
Forecast Period: FY’2021–FY’2025
Companies Covered:
Organized Used 2W Companies
Honda Best Deal
CredR
Mahindra First Choice
Bike Bazaar
Bikers Highway
Royal Enfield Vintage
Online Used 2W Platforms
Droom
Quikr
Olx
Bikes4Sale
CarandBike
Bike Jinni
Key Topics Covered in the Report: -
Market size of India used two wheeler markets
Market size of India online used two wheeler markets
Value chain in India used two wheeler markets
Market segmentation of India used two wheeler markets on the basis of market structure, stock piece & customized vehicle, distribution channels, source of
Manufacturing, type of two-wheeler, engine capacity, average ownership period, by manufacturer, body type, certification and financed & non-financed vehicle
Trends and Developments in India used two wheeler market
Growth Drivers and Restraints in India used two wheeler market
SWOT analysis in India used two wheeler market
Pre-Requisites to Enter the India used two wheeler market
Government Regulations in India used two wheeler market
Major players and their business models
Customer Profile in India used two wheeler market
Analyst Recommendations
For More Info on the Research Report, Click on the Below Link: -
India Used Two Wheeler Market Growth
Related Reports by Ken Research: -
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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