India Used Car Market Synopsis
India Used Car Market is estimated to gain traction in the country underpinned by the growing several factors such as increasing disposable income, rapid urbanization, cost saving purpose, and rising mobility requirement.
According to 6Wresearch, the India Used Car Market size is estimated to augment during the forecast period 2023-2029. The market growth is influenced by several factors such as shifting rural population into urban areas, increasing population living standard, and increasing ratio of youngsters in the country. Additionally, Environmental Concerns is one of the leading factors fuelling the used cars demand, as rapid climate change and environmental awareness have resulted in high spending in fuel efficient and eco-friendly used cars. Digitization and technology advancements have made it easier the car buying and selling process, leading to provide consumers with more information and options. Finance and loan options are available on used cars that have made it easier for buyers to make purchases is likely to bolstering the growth of the India Used Car industry in the country at a rapid rate.
COVID-19 influence on the India Used Car Market
The COVID-19 pandemic had an adverse impact on the used car market in India, which is a part of the Asia Pacific used cars market. During the pandemic phase, strict lockdown was imposed to cease the virus spread in the country, as a result, all used car showrooms and dealerships were closed temporarily. This had led to a decline in the product purchase simultaneously market shares & revenues. In addition to this, due to economic uncertainty and finance constraints led many prospective buyers to delay their decisions to purchase.
Key Players of the India Used Car Market
Below mentioned are some well known companies operating in the country and providing the best range products to their customer in order to fulfill their requirements.
- Maruti True Value is a well-known pre-owned car division of Maruti Suzuki. It provides a spectrum range of certified used cars with quality assurance and warranty.
- Mahindra First Choice Wheels is one of the largest organized players in the Indian used car market. They offer a wide selection of certified used cars.
- Cars24 is an online platform that offers a hassle-free way to sell used cars. They conduct vehicle inspections and offer instant payments to sellers.
- CarDekho.com is a popular online automotive portal that provides a spectrum platform for buying and selling used cars.
Key attractiveness of the report
- COVID-19 Impact on the Market.
- Forecast Data until 2029.
- Historical Data Starting from 2019 to 2022.
- 10 Years Market Numbers.
- Base Year: 2022.
- Major Upcoming Developments and Projects.
- Key Performance Indicators Impacting the Market.
Key Highlights of the Report:
- India Used Car Market Outlook
- Market Size of India Used Car Market, 2029
- Forecast of India Used Car Market, 2029
- Historical Data and Forecast of India Used Car Market Revenues & Volume By Gasoline for the Period 2019 – 2029
- Historical Data and Forecast of India Used Car Revenues & Volume for the Period 2019 – 2029
- India Used Car Market Trend Evolution
- India Used Car Market Drivers and Challenges
- Historical Data and Forecast of India Used Car Market Revenues & Volume By Vendor for the Period 2019 – 2029
- Historical Data and Forecast of India Used Car Market Revenues & Volume By Unorganized for the Period 2019 – 2029
- Historical Data and Forecast of India Used Car Market Revenues & Volume By Others for the Period 2019 – 2029
- India Used Car Price Trends
- India Used Car Porter’s Five Forces
- Historical Data and Forecast of India Used Car Market Revenues & Volume By Sports Utility Vehicle for the Period 2019 – 2029
- Historical Data and Forecast of India Used Car Market Revenues & Volume By Organized for the Period 2019 – 2029
- India Used Car Industry Life Cycle
- Historical Data and Forecast of India Used Car Market Revenues & Volume By Vehicle Type for the Period 2019 – 2029
- Historical Data and Forecast of India Used Car Market Revenues & Volume By Hatchbacks for the Period 2019 – 2029
- Historical Data and Forecast of India Used Car Market Revenues & Volume By Sedan for the Period 2019 – 2029
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