Monday, January 07, 2013
By Pawan Rana
Used car sales more than the new cars in Gujarat
The automobile industry hasn’t been in its best phase since a year or so. And this has led to decline in the demand for new cars. However, you would be fascinated to hear that in Gujarat a new trend has been born during this sad phase. People are opting for used cars more than the new cars. The consumers in Gujarat are buying used cars from the company as compared to the new ones. In the year gone by, Gujarat saw high demand for used cars.
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Many consumers who are the first time buyers for cars prefer used cars, which have shown a great decline in the demand for new cars. However, if compared to the new car sales figure, the used cars sales figure is way higher. In 2011, about 14000 new cars were sold monthly in Gujarat. But in 2012, about 15000 used cars were sold monthly in the state, which shows quite a bit of difference. It appears that Gujarat car consumers are selling their cars and buying less of new cars.
Another reason behind the fall in sales of new cars is the investment in the real estate and stock market. People are putting their money in those rather than buying a new car. Also the high interest rates and soaring fuel prices along with hiked new car prices have made people to stay away from new cars for the time being and pushed people to buy used cars.
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According to Mahindra and Mahindra officials, about 15000 used cars were sold in Gujarat almost every month. On the other hand, one of the dealers mentioned that about 14000 new cars (including Maruti and Hyundai) are sold every month there. both the companies together capture 60% of the market share.