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Festive shine was seen all across the country with recent Diwali
celebrations in October, gone by in full swing everywhere. Enthusiasm measures were
as high as 10 on a scale of 1-10 for almost every sector and undoubtedly, all
business industries experienced a visible thrust. While in the automobile
industry new vehicles enjoyed the enhancing sale numbers by the hour, as per
usual, it is the used vehicles segment which seems to have made a mark with its
numbers this time.
Where people in India, mostly religion-oriented, prefer
following the traditional norm of buying something new on a festival, the rise
in used vehicles at this celebratory time is unusual and paints a promising
picture for the industry. In particular for the used passenger cars and
two-wheeler vehicles, the ascending sales have been noticeably higher than ever
in the month of October.
As per media reports, the pre-owned car sales are
experiencing a 15%-20% year-on-year increase with an overall 30% increase for
the entire car retail segment. Big giants dealing in both new as well as usedcar vehicles have expressed their delight on the growing enhancement in the
used vehicles sale. This considerable sale hike has baffled even the top
players in the industry with the sizeable lower-middle class customer base
going in for the reasonably priced pre-owned vehicles as opposed to the new
ones.
Interestingly, these heightened sales have caught the
attention of the online e-commerce space as well with even the top sites such
as Amazon focusing more on the car accessories and other automobile parts for
catering to the throng of customers. All these drastic developments are rare
yet a very pleasing indication for the future of all the pre-owned industry operators.
As per the analysts, the used vehicles segment in the country
is at a flourishing stage and is expected to grow up the ladder with an
exceptional rate in years to follow. It seems all the merry-making of the
occasion and the approaching year-end has indeed ignited many customers and
also the transport-based businesses to invest in lucrative pre-owned automobiles.
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