Increasing Focus Of Oems On Used Car Segment Is Driving The Market In India

Used Car Market in India 2010

Used Car Market in India 2010

Demand for used cars is rising with the middle income group aspiring to own cars. This has lead many OEMs to enter the used car market, giving it an organized outlook. Many luxury car manufacturers are also entering the market while existing players in the market are expanding their number of used car outlets. The middle income group aspiring to possess a car along with the entry of OEM in used car market has lead to a huge demand for used cars. ( http://www.bharatbook.com/detail.asp?id=134457&rt=Used-Car-Market-in-India-2010.html )

The report begins with an insight into the sales of used cars (in volumes) and its growth, comparison of ratio of used car sales to new cars in India and the rest of the world and the sales of new cars vs. old cars through the years. This is followed by a description and the share of the various segments in the market.

An analysis of the drivers highlights growth factors such as growth of original equipment manufacturers (OEMs) in used car market, favourable demographics, changing lifestyles and consumer preferences, easier availability of loans and online portals increasing awareness among consumers. The key challenges identified include the launch of less costly cars in new car segment, limited choice and used car buyers incurring extra costs and hassle of checking various documents.

Competition section provides a snapshot of the players in the market including information regarding their launch, business highlights and financials, expansion plans providing an idea of the existing competitive scenario.

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