The Urban Used Car Market – All You Need To Know

(Image Source: theautochannel.com)

The used car market is one bright shining spot in this sluggish automotive industry since last few years. Always rising price of petrol & then the inability of people to buy a new car due to high interest rates lead to the change of people’s mindset to buy a used car. This trend was realized by various automotive manufacturers in early stages where they invested huge amount in setting up the dealerships for used car all across the country.

Coming up of organized players like Shriram Automall who with their effective process won the trust of customers & expanded their wings all over the country within a short span of five years only. Thanks to all these development, now the used car market is estimated at the same size as of the new car market.

See Also: Top tips to buy a used car

In this blog we give you the insight of the buyers of used car in India. As per a recent study by Deloitte, 67% of the used-car customers are in the age group 26-35 years, 22% of all customers are between 36-48 years of age. 66% of the customers have 2-4 members in their family, 30% have 4-6 family members.

As a known fact today majority of the used car customers are first-time buyers, 78% of customers from South and West are first-time buyers. North has the lowest level of first time buyers at 62%. Among these, a high percentage of people are upgrading from a two-wheeler to a for-wheeler.

What they look in while buying a used car?
•    Brand
•    Kilometers
•    Condition of car
•    Budget
•    Vehicle type

What is the ideal age of used car to buy?

Most customers buy a 2-4 years old car, the trend is largely similar across regions and from both customer and dealer perspectives. It’s been found like players who offers only certified used cars sell more other unorganized players. As reported most customers like to visit at least 1-2 dealerships before taking their buying decision & finalize their purchase within 5-10 days.

So, why wait so long when you can easily buy second hand cars in India. Visit Shriram Automall to choose from a wide range of used cars at the best price.