Tuesday, February 25, 2014
By Car Khabri Team
Increasing market of used cars in Indian car market
Last year 2013 was considered as the worst year for Indian car market which witnessed huge decline in car sales of decade due to various reasons which affected the buying strategy of car enthusiasts. It would be interested to know that even after various methods adopted by major car makers to inspire buyers to buy their products did not helped in improving the market situation. Although some companies launched the new vehicles in market which received the overwhelming response from customers but the overall performance of car market did not witnessed any improvement.
Where at one side all measures adopted by car makers were not delivering the expected results, surprisingly where at one side new and facelift cars were not succeeding in attracting customers towards them on the other side there was a segment of cars which was witnessing huge success. This segment was known as segment of used cars or in other words second hand cars, which witnessed an increase of about 25% hike during last few years while comparing to sales of fresh cars during the same period.
Although now as an impact of announcement by Finance Minister reducing the excise duty on cars and decline in price of cars by various car makers it is expected that situation of fresh car market will improve. But still industry experts believe that this will have very less impact on the business of used cars. However one thing which is confirmed that the market of used cars in India will continue to grow despite of new vehicles making their debut in market. Here it should be remembered that at present market of used cars is at its initial stage as compared to market of used cars in other countries.