INDIA USED CAR MARKET

 

INTRODUCTION

 

Throughout India, some used automobile sector is still in their infancy. The market is dominated by the unorganized sector, with few consumer protection options.

 

 

Semi-organized, disorganised, and customer-2-customer sales channels are all types of unorganised sales channels.

 

Moderately dealerships work out of a physical location like a workshop or a technician’s shop. Unorganised sector sales, but at the other hand, are conducted through intermediaries or royalties.

 

INDIA USED CAR MARKET SIZE AND FORECAST

 

India Used Car Market is expected to gain market growth in the forecast period of 2020 to 2027. It is analyzed that the market is growing with a CAGR of XX.X% in the forecast period of 2020 to 2027 and is expected to reach USD XXXX million by 2027. 

 

INDIA USED CAR MARKET DEVELOPMENTS AND INNOVATIONS

 

S No	Overview of Development	Development Detailing	Region of Development	Possible Future Outcomes
1	Mahindra First Choice Wheels Limited invested in CarandBike.com	Mahindra has invested in the website-oriented player of the used car market i.e. CarandBike.com	India	This would enhance better Technological Controls
2	Cars24’s smart pricing puts India’s used car market in fast lane	Artificial intelligence is being utilised by Cars24 Services and other Indian businesses selling used cars to provide transparency to the industry.	India	This would enhance better Technological Controls
3	Policy vacuum speed breaker may slow down India’s booming used car market	With the advent of companies like Cars24, Olx Autos, Droom, and CarTrade, the used automobile sector has gotten a boost. However, there is still a policy void.	India	This would enhance better Technological Controls
4	Car repossessions see sharp surge as used auto market in slow lane	As defaults are resolved through auction proceedings, repossessed automobile stockpiles are shifting to the used car market.	India	This would enhance better Technological Controls
5	India’s Cars24, a used-vehicle sales platform, raises $400M, now at a $3.3B valuation	Cars24, an Indian business that has developed an app and website for selling second-hand cars and motorcycles, has acquired $400 million in funding, including a $300 million Series G round and another $100 million in debt.	India	This would enhance better Technological Controls

 

COMPETITIVE LANDSCAPE

 

The industry is expected to rise significantly as more individuals prefer private transportation and more financing alternatives become accessible in the used automobile market.

 

According to the epidemic, customers have been forced to search for alternatives to new automobiles, and the used car market has a lot of room for expansion in this regard.

 

Owing to such pandemic’s impact on new vehicle sales and production, the used automobile market is gaining popularity among purchasers.

 

OLX India  is a leading mobiliser of the various explorer oriented used cars requirements in the market. The entity employs a sophisticated CRM platform that allows their sales staff perform better while also offering a wonderful customer experience.

 

Designers required a powerful CRM solution to accomplish these goals. We deployed Salesforce Sales Cloud to automate our sales operations because of the large number of client touchpoints and amounts of data created every day.

 

Cars24 has been one of the most advanced solution provider in the used car requirements. All used vehicle dealers/brokers are gathered on this single online bidding platform. Price discovery is improved by dealer rivalry.

 

It has been trying to expand its operations, it makes sense to collaborate with big dealers, which are usually organised / semi organized in nature. As a result, their bidding platform has high share of organised / semi organized dealers vs. unorganised dealers.

 

COMPANIES PROFILED

• OLX
• Cars24
• Just Dial Inc.
• Car Dekho Inc.
• Carwale
• Droom Inc.
• Maruti Suzuki
• Mahindra
• Cartrade Inc.
• Zig Wheels
• CarandBike Inc.
• Quikr
• Spinny
• Hyundai Promise
• BMW

 

 

THIS REPORT WILL ANSWER THE FOLLOWING QUESTIONS

1. What is the average selling price of India Used Car Market right now and how will it change in the next 5-6 years? 
2. Market share of India Used Car Market vendors right now and their upcoming products
3. The cost advantage for OEMs who manufacture India Used Car Market  in-house
4. 5 key predictions for the next 5 years in India Used Car Market right now, the latest trends in every market segment
5. The market size (both volume and value) of the India Used Car Market in 2022-2027 and every year between
6. Production breakup of the India Used Car Market by suppliers and their OEM relationship
7. What is happening overall in the India Used Car Market right now?
8. Who are the major players in the India Used Car Market?
9. What are the business opportunities in India Used Car Market right now and What is the target group?
10. What are the plans for the India Used Car Market in five years?
11. What are the Threats in the India Used Car Market in the next five years?