“Customer preference towards upgrading to higher segment two wheelers with budget constraints driving the used two wheeler market in India”.
Decrease in Replacement Cycle for Two Wheelers: The replacement cycle or average ownership period for two
wheelers in India has come down from 7-8 years to 0-2 years over the past
decade driven by rising aspirations of Indian consumers, frequent two wheeler
launches and easy availability of financing for new two wheelers. Need for
better exchange rates and saving on further depreciation is also bringing down
the replacement cycle for new two wheelers.
COVID-19 Impact on Used Two Wheeler Market: 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, increase in supply
was not seen Owing to cash crunch, people retained their vehicles thereby
avoiding shifting to new vehicle purchase for a while. Supply of used two
wheelers mainly originated from individuals looking for immediate cash or from
food delivery companies selling out vehicles & laying off their delivery
agents in order to meet cash flow needs. As lockdown eases further, Sale of
Used Two Wheelers expected to Increase mainly from non-metro cities as
consumers prefer to have their own vehicle as compared to travelling in Public
Transport System.
Growth in Tier II & Tier III Cities: The Indian government was observed to particularly spend
towards rural programs and huge road-construction projects that have led to
increase in two wheeler volumes in smaller towns and cities of India. Besides
rising incomes and growing infrastructure in rural areas, one of the primary
growth drivers for the spurt in sales has been rise in total number of women
commuters.
Consumer Shift Towards Online Sales Channels: People residing in Metro cities such as Delhi NCR, Mumbai, Chennai,
Bangalore and others along with rising internet penetration were observed to
shift towards online classifieds and websites which act as a one stop shop for
customers, therefore displaying product features along with pricing and other
factors and promoting C2C transactions. On the other hand, people residing
non-metro cities prefer to buy through offline channels.
The report titled “India
Used Two Wheeler Market Outlook to 2026 (Second Edition) – Convenient Financing
Options and Emergence of Online Marketplace Platforms supporting Market Growth” by Ken Research suggested that the used two wheeler market
is expected to grow at a double digit positive CAGR. Rising Aspirations of
young consumers along with increasing in demand from Tier II & Tier III cities
is driving the used two wheeler market in India.
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
Others
By
Replacement Cycle
0-2
years
2
years-4 years
4
years-5 years
5
years - 6 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’2021
Forecast Period: FY’2021–FY’2025
Companies Covered:-
Organized Used 2W Companies
Honda Best Deal
CredR
Mahindra First Choice
Bike Bazaar
Suzuki Best Value
Bikers Highway
Royal Enfield Vintage
Ducati
Online Used 2W Platforms
Droom
Quikr
Olx
Bikes4Sale
CarandBike
Bike Jinni
Bikes24
Key Topics Covered in the Report:-
Market
size of India used two wheeler market
Market
size of India online used two wheeler market
Value
chain in India used two wheeler market
Market
segmentation of India used two wheeler market 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 Information
on the research report, refer to below link:-
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