India Used Two Wheelers Market is Expected to be Driven by Rise in Customers’ Tendency to Upgrade to Higher Segment, Scooter/ Bike Pool and Two-Wheeler on Hire: Ken Research

• Online players have also been offering insurance, RTO transfer ownership assistance and financial assistance for buyers. Apart from this, companies source subscription revenue from dealers who list their products on the platform.
• The used two-wheelers sales volume in India is expected to grow over the next few years owing to introduction of new two wheeler variants along with the rising aspirations of low and middle income consumers in the country.
• Trust factor plays a very crucial role in any online E-commerce platform and Indian customers nowadays are also getting encouraged to purchase two wheelers online.

Many organized players are further anticipated to gradually adopt omni-channel approach in order to provide an easily accessible buyer-seller verified database to its audience in offline markets. These dealership centres can easily gain attention of youth, working professionals and bike lovers, thereby providing them with an elevated, showroom like experience for used two wheeler customers. It is further estimated that India used two wheelers market will continue to grow in the coming years as used vehicles are much cheaper to purchase than a new one. Also, online market is expected to showcase an exponential growth in the future due to rising number of online players and rising investment opportunities.

By type of vehicles, the sales volume for commuter bikes and gearless scooters are expected to increase in near future owing to increasing transportation needs of Indian consumers coupled with rising working class population of India. Also, the demand for sports and luxury bikes is also estimated to increase among bike enthusiasts. In addition to that, people would prefer to purchase high priced bikes because of changing attitude towards bike purchase and reduction in price of 4 wheelers.

The rising trend of scooterisation in India will continue to create a positive impact the country’s used two wheelers market, especially from the rural and semi-urban pockets as gearless scooters have evolved as the preferred vehicle of daily commute for families. The industry leader Honda Motorcycle and Scooter India Ltd. (HMSI) presently sells around three scooters for every seven motorcycles in rural and semi-urban pockets and is further estimated to give a boost to this ratio in future.

Analysts at Ken Research in their latest publication “India Used Two Wheelers Market Outlook to 2023 – By Unorganized and Organized Sector, By C2C and B2C Distribution Channel, By Stock Piece and Customized Two Wheelers; By Motorcycles and Scooters” believe that expansion in tier-2 and tier-3 cities will create a positive impact on India used two wheelers market. The market is expected to register a positive CAGR of 21.2% in terms of sales volume during the forecast period FY’2018-FY’2023E. The market is further expected to be driven by the rising availability of 3G / 4G network and increasing mobile phone penetration in India.

For more information on the research report, refer to below link:
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/india-used-two-wheeler-market/157169-100.html

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https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/russia-used-car-market/146656-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/indonesia-used-car-report/79410-100.html

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