The used car market is starting to thrive slowly and for obvious reasons. Although the ambitious value is surely compromised, it offers affordable models at almost half the price of a new equivalent model, and you can still use it for a relatively longer period. The used car market has outperformed the new car market in terms of sales since 2017 and is expected to continue to prosper after the close with an upward trend in favor of personal mobility.
Also read: Maruti Suzuki obtains more than 5000 online reservations; 2,300 cars shipped to dealerships
Yes! The shared mobility space was affected after the coronavirus epidemic, as people practice social distancing and use personal products to a large extent. The used car segment is probably the most affordable in the automotive industry. Speaking to Siddharth Vinayak Patankar, carandbike editor on the latest Freewheeling With SVP web episode, Shashank Srivastava, CEO of Marketing and Sales, Maruti Suzuki India said: "What we are seeing is a very common phenomenon as long as the markets are stressed by the transfer of requests, so that the demand starts to move from the top on the upper side of the segment towards the center, then reaches the bottom and the bottom falls even further. The bottom is the segment used cars. Even if you see used car sales last year or a few years ago, it surpassed new car sales even before it closed. "
Related Downloads:
Also read: Maruti Suzuki and Hyundai Sales Post Lockdown show signs of rebirth for the industry
Customers benefit from a much better buying experience with an organized used car dealer.
The real value is the wing of the Maruti used car market and holds a market share of almost 60% in the organized used car market. That said, the unorganized used car business, where the deal takes place between the seller and the buyer or through a private broker, Still holds the majority of the market, while the organized used car company only has around 80 percent of the market. As the market matures and more and more buyers prefer authorized dealers who offer guarantees, insurance checks, take care of the paperwork and restore the car before delivery , the organized used car market has greater potential and is likely to increase participation.
"Cars used in the automotive industry have always had this question mark about the actual value and the actual condition of the car. So we have many checkpoints and assess the vehicles so see a growing trend in the organized sector in the used car market and True Value is one of them so I think people want more transparency in the future when they buy used cars and what Maruti does is that not only assesses it, but also restores it and deserves to be guaranteed on these cars. "Srivastava added.
Also read: Lockdown 4.0: Government financial assistance program expected to increase demand for cars and restore supply chain
0 0 comments
In addition, as part of the government's 20 lakh crore rupee economic rescue plan, Finance Minister Nirmala Sitharaman had announced various incentives to improve the liquidity situation in the country, such as strengthening 50,000 crores for taxpayers. , a 25% Deduction in TDS and TCS for the self-employed class, PF deduction reduced to 10 percent from 12 percent for the employed class, pending income tax refunds up to 5 lakh pounds and a guaranteed liquidity support guarantee at £ 6.75 crore, among others. Better cash flow and better availability of credit should also drive customers to buy feelings, which is likely to benefit second-hand and compact car sales.
For the latest automotive news and reviews, follow CarandBike on Twitter, Facebookand subscribe to our Youtube channel.