The used car market has emerged as the most vibrant and transforming segment of the Indian automobile industry. It has been witnessing various developments on account of factors like increasing urbanization, rising income levels, and launch of new models which are encouraging people to change their cars more frequently than before. According to a new research report by RNCOS, “Used Car Market in India”, online portals, and the entry of Original Equipment Manufacturers and international luxury car makers in the used car business are the emerging trends in the market.
Research Analysis and Highlights
The concise report by RNCOS on the Indian used car market comprehensively analyzed the emerging trends which are expected to prevail in near future. The study also evaluates various strategies adopted by the players that are likely to boost the used car market in India.Providing an insight into the competitive landscape, the report also discusses the profiles of key players in the market. This is expected to help clients understand the present developments in the used car market and its future outlook. The cutting-edge market intelligence is expected to help the intending clients make the sound investment decisions.
Some of the key highlights of the report are:
- Small car segment to dominate India’s second hand car market.
- Used car market in India is expected to grow at a CAGR of around 22% during 2011-2014.
- Online portals are a fast emerging concept in the used passenger car market.
- Original Equipment Manufacturers to venture into the used car business.
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