Snapshot on Online Used Two Wheeler Market in India
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 India 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 have
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’2015
to INR ~ Crore in FY’2021. 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 two wheelers market competition structure was observed to be
highly fragmented with the presence of large number of local dealers, small
mechanics and individual sellers, thus making ~ % unorganized market space in
the FY’2021.
~ % of the used two wheelers market in terms of sales volume was observed
to be unorganized which comprises of individual sellers, local mechanics and
small dealerships. Whereas the remaining ~ % of the market constitutes of 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
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
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.
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’2021 to ~ million units of sales volume in FY’2026.
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’2021:-
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
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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:-
Related Reports:-
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Economic Crisis
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249
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