India Used Cars Growth Opportunities

India Used Cars Growth Opportunities

Online Business Models are an Important Growth Driver

RELEASE DATE
24-Aug-2023
REGION
South Asia, Middle East & North Africa
Deliverable Type
Market Research
Research Code: PE10-01-00-00-00
SKU: MX_2023_96
AvailableYesPDF Download
$4,950.00
In stock
SKU
MX_2023_96
$4,950.00
DownloadLink
ENQUIRE NOW

Description

The availability of digital pricing engines, the growth of online platforms, and the shift to organized platforms play a key role in market growth. Several companies, including Cars24, CarWale, CarDekho, Maruti Suzuki True Value, and Mahindra First Choice, offer various value-added services, such as vehicle inspection, free servicing, and easy finance, to attract customers. They also provide 360-degree exterior/interior views, detailed specifications, and expert reviews to maintain a high level of transparency and enhance the customer experience.

As the COVID-19 pandemic eased, demand for personal mobility increased significantly in India. Customers want to avoid public transportation and evade contact with strangers; they prefer to use personal vehicles to eliminate the risk of catching an infection. However, new car prices rose significantly between FY21 and FY23, pushing customers toward used cars. This led to drastic demand for used cars during this period. In FY23, sales of pre-owned vehicles is anticipated to increase by about 28% more than the previous year.

This Frost & Sullivan study provides an in-depth analysis of growth opportunities for the Indian used cars market, and it also offers valuable insight for companies looking to participate in this rapidly growing market.

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Indian Used Cars Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Market Segmentation

Key Channel Analysis

Growth Metrics

Growth Drivers

Growth Restraints

Forecast Assumptions

Used Car Sales versus New Car Sales

Used Car Sales Forecast (Units)

Used Car Sales Forecast (Value)

Used Car Sales Forecast by Vehicle Type (Units)

Used Car Sales Forecast by Vehicle Type (Value)

Used Car Sales Forecast by Sales Channel (Units)

Used Car Sales Forecast by Sales Channel (Value)

Pricing Trends and Forecast Analysis

Competitive Environment

Used Cars—Market Trends

Macroeconomic Indicators

Used Car Value Chain Analysis

Used Car eRetailing Trends

Used Car Rules and Legislation

Used Electric Vehicle Industry Overview

Distribution Structure Analysis

Value Proposition Analysis

Used Cars Online Business Model

Key Competitor Benchmarking

Key Dealers/Online Platforms—Cars24

Key Dealers/Online Platforms—CarDekho

Key Dealers/Online Platforms—Spinny

Key Dealers/Online Platforms—CarTrade

Key Dealers/Online Platforms—Droom

Key OEM CPO Program—Maruti Suzuki True Value

Key OEM CPO Program—Mahindra First Choice

Key OEM CPO Program—H–Promise

Key OEM CPO Program—Honda AutoTerrace

Key OEM CPO Program—Toyota U Trust

Growth Metrics

Revenue Forecast

Unit Forecast

Forecast Analysis

Growth Metrics

Revenue Forecast

Unit Forecast

Forecast Analysis

Growth Metrics

Revenue Forecast

Unit Forecast

Forecast Analysis

Growth Opportunity 1—Online Presence through Websites

Growth Opportunity 1—Online Presence through Websites (continued)

Growth Opportunity 2—Online eCommerce Business Models

Growth Opportunity 2—Online eCommerce Business Models (continued)

Growth Opportunity 3—Refurbishment Services to Meet the Rising Used Car Demand

Growth Opportunity 3—Refurbishment Services to Meet the Rising Used Car Demand (continued)

Growth Opportunity 4—Used Cars for Mobility as a Service

Growth Opportunity 4—Used Cars for Mobility as a Service (continued)

Your Next Steps

Why Frost, Why Now?

Partial List of Abbreviations and Acronyms Used

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

The availability of digital pricing engines, the growth of online platforms, and the shift to organized platforms play a key role in market growth. Several companies, including Cars24, CarWale, CarDekho, Maruti Suzuki True Value, and Mahindra First Choice, offer various value-added services, such as vehicle inspection, free servicing, and easy finance, to attract customers. They also provide 360-degree exterior/interior views, detailed specifications, and expert reviews to maintain a high level of transparency and enhance the customer experience. As the COVID-19 pandemic eased, demand for personal mobility increased significantly in India. Customers want to avoid public transportation and evade contact with strangers; they prefer to use personal vehicles to eliminate the risk of catching an infection. However, new car prices rose significantly between FY21 and FY23, pushing customers toward used cars. This led to drastic demand for used cars during this period. In FY23, sales of pre-owned vehicles is anticipated to increase by about 28% more than the previous year. This Frost & Sullivan study provides an in-depth analysis of growth opportunities for the Indian used cars market, and it also offers valuable insight for companies looking to participate in this rapidly growing market.
More Information
Deliverable Type Market Research
Author Shantanu Khambekar
Industries Cross Industries
No Index No
Is Prebook No
Keyword 1 Used Car Market Trends
Keyword 2 Used Car Market Forecast
Keyword 3 India Used Car Market Size
Podcast No
WIP Number PE10-01-00-00-00