Higher Sales Expected for Premium Used Cars in the Indian Market as compared to Abysmal New Premium Cars Sales in Next 5 years: Ken Research

Key Trends
• New Automotive sales has become challenging in the year 2019 even for luxury brands which usually perform better during tough macro environment. People are expected to shift to used luxury vehicles till the uncertainty related to BSVI and electricity vehicle clears out.
• Entry of new players (new & used car segment) in online and offline retailing to push used car business in India
• Companies would leverage technology to streamline the operations- mobile applications, IOT, connected vehicles, driverless cars, intelligent transport system & others
• Online sales model used by dealers & classifieds & their success would push OEMs to improve their sales volume & get involved.

Expected Market Growth and Structure: Future for premium used car in India is very high and replicating of consumer preference from the western economies is expected. Leasing of cars and lower ownership period are expected to have positive impact on demand as quality products will be available at affordable value. The market will move more towards organized sector as easier finances and value added services such as leasing, roadside assistance, improved after warranty are made available.
Entry of New Players: Various new players entered the offline (more dealerships) & online (classified) sales market in 2018 and the trend is expected to continue in future. These companies sales targets would expand in amplitude by the end of 2019. One of these names include Truebil, the company has entered the market in 2018 and has already started selling cars in each city it is present and the cars are priced between INR 12 lakh and INR 98 lakh. The portal offer brands such as Audi, BMW, Mercedes and Jaguar along others. Regional expansion has been the key market entry strategy along with introduction of new business models.
Impact of Technological Advancement: Advancement in Fintech will lead to improvement in transaction and operation processes. It will simplify and become more trust worthy, sophisticated, advanced with decline in average time taken for 1 complete transaction. The Electric vehicle industry in India has been growing gradually and it is expected that by the end of 2023, various new companies will penetrate the automobile market. With adoption of latest technology, a lot of cars will enter the aftermarket.
Analysts at Ken Research in their latest publication “https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/india-pre-owned-premium-car-market-outlook/254972-100.html” expect that with introduction of new technology and growing demand from non metros will have positive impact on the market. The focus on improving after sale service, easy finance, leasing will drive the demand for used car sales. It is expected that India Used car market will register a five year CAGR of 11.7% during the period 2018-2023.

Key Segments Covered
• India Premium Used Car Market Segmentation by Market Structure (Organized/Unorganized & C2C),
• India Premium Used Car Market Segmentation by Car Made/Brand (BMW, Mercedes Benz, Audi, JLR and Other)
• Premium Pre-Owned Car Dealers (MB Certified, Audi Approved plus, BMW Premium Selection and Jaguar Approved) in India
• India Premium Used Car Market Segmentation by Sourcing Channel (Buy Sell, park Sell and Trade Ins)

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
• Used Car Industry Movement
• India Premium Used Car Market Size By Sales Volume and GTV, 2013-2023
• International Market Study: Overview of United States, Japan & Europe Pre Owned Premium Car Market, 2013-2018
• Detailed Analysis of MB Certified, Audi Approved Plus, BMW Premium Selection, Jaguar Approved-Dealer Network across various Regions in India
• Customer Profiling-Know your Target Audience
• Sourcing Network and Process Adopted by Premium Car Brands
• Premium Car Exchange
• Marketing and Re-marketing Trends in India Pre Owned Premium Car Market, 2018
• Resale Value analysis
• Finance Support
• Snapshot on Cars24.com and Other Digital Used Car Aggregator( Business Model, Operating Model, Company Profile, Key Performance Indicator)
• Company Profiles (Company Establishment, Journey, Offices, Showrooms, Management, Certifications & Others, Company Business/Operating Model, Sourcing of Inventory, Marketing & Business Strategies , Customer Acquisition Process, Financials & Others
• Analyst Recommendation

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

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/us-vehicle-finance-market-outlook/252780-93.html

https://www.kenresearch.ae/automotive-transportation-and-warehousing/automotive-and-automotive-components/indonesia-used-car-market-research-report/212624-100.html

https://www.kenresearch.com/technology-and-telecom/it-and-ites/uae-used-car-auto-classified-market/170500-105.html

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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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