India Used Car Market : Analysis of Growth, Trends Progress and Challenges to grow at a CAGR of 14.58%

The India Used Car Market is expected to grow at a CAGR of 14.58% and grow to a market size of $ X.XX billion by the year 2020. The used car market in India has grown at a tremendous pace since the start of the 20th century. The main reason for the same has been the advent of organized players in the market, which have taken care of the trust deficit, plaguing the Indian Used Car Market for Ages. Even a decade back, almost all of the sales in the Indian Used Car Market took place in the unorganized sector. Sellers would palm off substandard products to the buyers, so most people preferred to buy cars in the circle of family, friends and acquaintance.

Sample Report Request: https://www.reportsandmarkets.com/sample-request/1073965-india-used-car-market-analysis-of-growth-trends-progress-and-challenges-2017-2022

For every new car sold In India, a used car is sold. When compared to matured markets like United States of America, this figure is extremely low. This figure also indicates that despite the high growth rates seen in the market, there is room still for growth.

Lack of Financing or very expensive financing options for used cars are a very major drawback in the space. While the finance for new cars is easy to get, used car finance attracts a higher rate of interest and is not given so easily. But the rise of the organized sector has taken care of that aspect. Major players like Toyota, Maruti Suzuki dealing in the used car space have tie ups with financial agencies that give out loans for used cars. Leasing option is a concept, which has not taken off in India and is offered by very limited outlets. But this financing option has massive growth potential in the market as the burden on the consumer comes drastically down. Due to taxes, Indian cars are one of the most expensive in the world, which influences the consumers to go in for used cars. With the prices of diesel cars increased further in the latest budget, there are becoming increasingly expensive, which means their sales in the used car market will get a boost.

Reports Full Description: https://www.reportsandmarkets.com/reports/1073965-india-used-car-market-analysis-of-growth-trends-progress-and-challenges-2017-2022

Small SUV’S have registered tremendous rate of growth in recent years, and will show the highest rates of growth in sales in the used car market till 2020. Organized space will rapidly gain market share in the next 5 years and control more than 3/10th of the market by 2020.

Maruti True Value, Mahindra First Choice, Carnation are some of the important players in the market. Used Car Market in India has been segmented by Vehicle Type (Hatchbacks, Sedans, SUV’S, others), Vendor Type (Organized, Unorganized), by Fuel Type (Petrol, Diesel, Others).

What the report offers

Market analysis for the India Used Car Market specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect India Used Car Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped

About us

Reports And Markets is part of the Algoro Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.

Are you mastering your market? Do you know what the market potential is for your product, who the market players are and what the growth forecast is? We offer standard global, regional or country specific market research studies for almost every market you can imagine.

The marketing research reports consist of market analysis with statistical and analytical information on the markets, applications, industry analysis, market shares, technology and technology shifts, important players, and the developments in the market.

Do you want to know more on a specific company? Our Company Reports collection contains thousands of profiles of major industrial companies. These reports typically contain information like a company overview, business description, company history, major products and services, key facts, SWOT analysis, key employees, subsidiaries, and company locations.

On ReportsAndMarkets.com you will find all the globally available market research and company reports from well-respected market research companies, all leaders in their field. Reports And Markets is totally independent and serves its customers by providing the most reliable market research available, as we understand how important this is for you.

Contact Us

Sanjay Jain

Office No: 206 Empress Mill Society

Shree Nagar, Nagpur - 440015

Maharashtra India

Ph: +44-020-3286-9338 (UK)

+1-214-377-1121 (US)

info@reportsandmarkets.com

This release was published on openPR.