How is the India Pre Owned Premium Car Market positioned?

Market Growth: The market registered a CAGR of ~ % and ~ % on the basis of GTV & volume respectively during 2013-2018. This has been due to expansion of new car sales, launch of new models customizations, decline in average ticket size, introduction of new sales channels and others.

Threat of New Entry: As the luxury car market gets more lucrative, other foreign players are expected to enter the market. Companies need to work on maintaining its reach so that the impact of market entry by other major known brands may not impact its market.

Demand expanded primarily owing to rise in the number of HNI’s & per capita disposable income. Change in mindset of domestic population for favoring used cars over new cars also facilitated the shift.

Moreover, the crunch in terms of easy credit (cash) has led to customers postponing their decision to buy pre-owned cars, leading to a fall in volume. ~ % dealers are now required to bear a higher tax burden under GST in comparison to old VAT structures. This has also pushed the demand for car financing.

India Premium Used Car Market Segmentation

By Average Ticket Size, 2013-2018

The market witnessed a gradual decline in the average ticket size registering a CAGR of ~ % during 2013-2018. Average price of premium vehicle is around INR ~ lacs higher in the organized network owing to certifications involved, one stop solution for RC transfer, insurance transfer, financing, warranty offered, genuine spare parts along with premium services extended. The prospective customers have shifted their buying decision towards premium used car, instead of opting for a new car.

By Market, 2018-2023

The market has been captured by the unorganized players contributing more than ~ % of the entire sales volume in 2018. Similar trend is expected to continue in the future with a minute dip witnessed in favor of organized market space. The organized sales volume is expected to showcase growth at a very strong CAGR of ~ % while the unorganized sales volume will grow at ~ % during 2018-2023.

By Car Brand/Make, 2018

Mercedes Benz has been the market leader in terms of sales volume capturing highest sales share in new & used premium car segment in 2018. BMW has been the second contender in respective markets in 2018. Although Mercedes Benz’s average ticket size is higher than BMW, its excellent service, elated car experience & regional expansion has contributed to these numbers.

India Pre Owned Premium Car Market Future Projections and Outlook to 2023

Future Trends in India Pre Owned Premium Car Market              

Entry of New Player in Online and Offline Retailing

Higher Auto OEM’s Involvement in Promoting Car Business

Availability of Innovative Purchase Options

Shift of Regional Focus to Tier 2 and Tier 3 Cities

Retail Network Expansion

Sales of Electrical and Hybrid Cars

Technological Innovation

Key Target Audience:-

Online Auto Listing Websites

Premium Car Companies

NBFCs, Insurance Companies and Banks

Used Car Dealers

New Market Entrants

Time Period Captured in the Report:-

Historical Period: 2013- 2018

Forecast Period: 2019 – 2023

Companies:-

BMW

Mercedes Benz

Audi

JLR

BBT

Cars 24

Cartrade

Key Topics Covered:-

India Pre Owned Premium Car Industry

India Pre Owned Used Car Market

India Used Car Industry

India Pre Owned Premium Car Market Revenue

Used Luxury Cars For Sale In Mumbai

Number of Branches of Car Trade India

Used Luxury Car Market India

Used Car Finance By BMW India

Resale Value Analysis Of Used Car India

Dealer Sales Luxury Cars India

BMW Pre Owned Premium Car Market Sales India

India Used Car Market Sale By Dealership

For more information on the research report, refer to below link:-

India Pre Owned Premium Car Market

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US Vehicle Finance Market Outlook to 2023 –By Banks and Non Bank Entities including Captives and Credit Unions and Finance Companies (Auto Loan Portfolio), By New and Used Vehicles, By Type of Vehicle Financed (Passenger Cars and Light Trucks), By Loan Time Period and By Risk Category

Indonesia Used Car Market Outlook to 2023 – Rising Popularity of Online Platforms and Reduction in Average Ownership Period to Drive Used Car Sales

UAE Used Car and Auto Classified Market Outlook to 2022 – By Revenue Streams (Commission, Paid Listings, Banner Advertisement), By Export and Domestic Sales

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