In India, the used small car segment is one of the fastest growing markets, with the demand being driven by rising income levels and changing lifestyles. According to a new research report on “Used Car Market in India” by RNCOS , the used small car market in India has been witnessing a remarkable growth on account of factors like easy availability of finance. As per the estimation, the used small car market in India will grow at a CAGR of 22% during 2011-2014 to reach around 2,652,000 units by 2014.
The demand for a variety of cars is expected to increase in future. The research highlights that the organized sector in India has been offering certified used vehicles at competitive rates, along with finance and insurance options and warranties and service guarantees, and the tide is expected to gradually turn into the favor of this sector. As the demand for pre-owned vehicles continues to outstrip the supply, Original Equipment Manufacturers (OEMs) foresee a huge opportunity in the business, the report finds out. The current encouraging trend will attract more companies into this fast-growing business, the report predicts.
The report comprehensively analyzed the emerging trends, like increasing popularity of online portals in the Indian used car market. This will help clients understand the present and future outlook of the Indian used car market and associated developments. The study also evaluates various strategies which will boost the Indian used car market. This will facilitate clients with the cutting-edge market intelligence, helping them make sound investment decisions.
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