Market Overview and Size
India is the greater producer and manufacturer of two wheelers around the world followed by the Republic of China. Growing fuel prices is one of the main growth drivers for two-wheelers owing to their greater fuel efficiency. In India, commuters around all age groups utilize the motorized vehicles, especially two wheelers due to the growing population and speedy increase in traffic congestion, thereby making two wheelers as the most suitable and convenient mode of transportation around urban locations. The market has attained speedy growth over the duration of five years from FY'2015 to FY'2020. The requirement for utilizes two wheelers has seen a continuous rise over the past few years, especially from models such as Honda Activa, Aviator, TVS Jupiter, Bajaj Pulsar and Discover. Even in terms of exports, two-wheelers introduced in India are the proud products of the "Make-in-India" initiative where nearly 7 in 10 automobiles carried out of India are two-wheelers
Report Analysis and Competitive Landscape
According to the report analysis, ‘India Used Two Wheeler Market Outlook to 2025- Driven by Increase in Workforce Migration and Aversion towards Using Public Transportation’ states that India used two wheelers market competition structure was witnessed to be extremely fragmented with the existence of large number of local dealers, small mechanics and individual sellers. Organized players such as Droom, Honda Best Deal, CredR, BikeDekho.com, Mahindra First Choice Wheels Limited (MFCWL) and others underwrite very restricted to the complete market. Certification and authentication, brand, price, mileage and performance, engine quality/power and total number of dealers are some of the perilous parameters on the basis of which companies contest in the organized sector.
Snapshot on Market Landscape
The online used two-wheeler market has been emerging with the growth in the popularity of e-commerce platforms across the country. Online platforms such as Flipkart, Amazon and Snapdeal have allowed India users to trust online platforms and make great value transactions online utilizing their debit/credit cards and net banking. The growth of online advertising, which has propelled the grow of online classified platforms such as Droom, OLX, Quikr and several others have revolutionized the manner in which pre-owned vehicles have been sold around the country. With the growth in the number of vehicles sold online, these players not only observed a sharp growth in marketplace revenue but also from other sources involving advertisements, subscriptions and several other value-added services. The complete Online Market is predicted to Increase at a double Digit Positive CAGR during the duration FY’2020-FY’2025.
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Future Outlook
India Used Two-Wheeler Market is predicted to grow during the coming years as used vehicles are much inexpensive to purchase than a new one, since the introduction of BS VI Standards. People mostly in smaller cities and towns who wish to own a vehicle start with buying a second-hand two-wheeler to get control of it. Similar is the case of women drivers who prefer buying a pre-owned vehicle to learn driving before they actually buy a new vehicle. Also, local dealers who have been facing rough competition from the online classifieds will be seen linking with the online players to reach out to higher audiences
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India pre-owned two wheelers Market
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