DUBLIN, Sept. 20, 2023 /PRNewswire/ — The “India Used Cars Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering.
The study offers critical insights and growth avenues for stakeholders eyeing opportunities in this ever-evolving sector.
Post the COVID-19 pandemic, the rise in demand for personal mobility in India saw a significant shift. To evade potential contagions and bypass public transport, consumers leaned heavily towards personal vehicles. Notably, between FY21 and FY23, the prices of new cars surged, steering consumers toward the used cars segment. The aftermath? An anticipated 28% hike in used car sales in FY23 compared to the prior year.
Digital pricing platforms and organized sales outlets have been pivotal to this market’s growth. Leading companies like Cars24, CarDekho, Maruti Suzuki True Value, and Mahindra First Choice have been at the forefront, offering a slew of value-added services. From vehicle inspections and easy financing to 360-degree car views and expert reviews, these companies aim for optimal transparency and an unmatched customer experience.
Key Highlights of the Report:
- Analysis of growth inhibitors and propellants.
- Sales forecasts for used cars versus new cars, broken down by value, vehicle type, and sales channel.
- In-depth examination of used car market trends, e-retailing patterns, and the electric vehicle landscape.
- A thorough study of leading dealers and online platforms including Cars24, CarDekho, and Spinny.
- Revenue and unit forecasts within franchised dealer CPO, independent dealers, and customer-to-customer segments.
- Exploration of growth avenues such as online business models, refurbishment services, and the rise of used cars in ‘Mobility as a Service’.
Growth Opportunities
- Online Presence through Websites
- Online eCommerce Business Models
- Refurbishment Services to Meet the Rising Used Car Demand
- Used Cars for Mobility as a Service
Companies Spotlighted:
- CarDekho
- Cars24
- CarTrade
- Droom
- Honda AutoTerrace
- Hyundai’s H-Promise
- Mahindra First Choice
- Maruti Suzuki True Value
- Spinny
- Toyota U Trust
For more information about this report visit https://www.researchandmarkets.com/r/lkpd45
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SOURCE Research and Markets
