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 Models’ states 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.
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
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
