The global recession has created a turbulence in the Indian car market influencing the consumers' purchasing power. New car sales has been slashed drastically shifting the wind of growth towards used car market.
Seeing the current turmoil in the car industry, many car manufacturers has postponed their new car launches. At this time of financial meltdown, consumers also feels it is better time to shop for used car rather than investing hefty amount on a new car purchase.
So, the used car segment is now experiencing a good demand compare to the earlier time of stable market condition. For instance, Maruti True value has experienced a growth of nearly 30 percent, whereas the sales of the Maruti's new cars has dropped by around 10 percent.
The new car market is further likely to face tough competition from the used car market as there is possibility of the car prices going high this January.
Moreover, certified used cars from Company-owned used-car outlet are thriving enormously in the industry because they provide a wide range of services like car finance and insurance, fitment of car accessories, assistance with paperwork, and documentation under one roof.
Labels: Indian-car-market, New-Car, Used-Car
1 Comments:
True, New Car market has really gone down, now people are behind the Used True Value Cars, which are cheaper and gives the comfort of New cars. The peripherals are also smooth and not so confusing. When one can get luxury with less finance then they'll surely go for that sect only.
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