India Used Car Industry Performance – Impact of COVID-19 and Outlook to 2027

Overview

Report Synopsis

Industry Overview
The used car market in India is in its infancy stage, with plenty of room for growth. Buying a used car in the country was considered as a taboo before the COVID pandemic, but after the pandemic affected savings and spending power, people began to shift to used cars as a first buyer or to purchase a second-hand car. In the coming years, the used car market in India is expected to outnumber the new car market by 1.4 times.

According to our study, India used car industry turnover is expected to increase from USD ~ billion in 2021 to USD ~ billion in 2025. The Covid-19 has also resulted in a decrease in dealership footfall, which has prompted the use of cutting-edge digital tools. It is estimated that the used car market in India will grow at a CAGR of 10.9% between 2020 and 2027. The market for used cars in India is benefitting in recent years and after the virus outburst the country is witnessing double digit growth in demand.

Scope of the Study
Report titled “India Used Car Industry Performance – Impact of COVID-19 and Outlook to 2027” published by Makreo Research and Consulting Firm gives detailed analysis of the industry performance considering the past, present and future trends with a detailed discussion of the economic factors that plays a major role. The report provides a comprehensive analysis of the industry covering market drivers and challenges that are accountable for influencing the market performance.

The report helps to gain insights on country’s economy, its political environment, technological overview and demographic profile. Impact of government measures, macro economic factors, measures taken by market players and others have been considered while assessing the future outlook of the industry.

Market Coverage: The report helps to gain insights on India’s positioning in the Used car Market along with a detailed discussion on the performance of country’s economy and markets growth. India Used Car Market Research Report covers the market for used cars in India and future outlook and it also deep dives into various parameters including Used car demand by vehicle type (hatchbacks, SUV, and Sedan), by vendor type (organized and unorganized) and by Geography. We have studied the used car market size in India by industry segmentations using bottom up approach.

COVID-19 Impact Assessment: It is important to understand the COVID-19 impact over the used car industry in India. The industry assessment has been done basis COVID-19 impact in 2020 and in coming years over trade

Competitive Landscape: This section discuss performance of the key players, mergers and acquisitions happened in recent past, and Funding received by the key players. Players discussed in the section are:
Cars24 Service Pvt. Ltd, Maruti True Value, Mahindra First Choice Wheels, Big Boy Toyz, CraTrade, Quikr Car, OLX Auto, Hyundai H Promise, Toyota U Trust,

Key Questions Answered

We have covered the below mentioned areas in India used car market report:

• How India used car market has fared in the past?
• What is the current demand scenario of India used car market after the virus outbreak?
• How used car market is segmented and what is the ratio of organised and unorganised plyers?
• Which type of car is most on-demand in the India used car market?
• Geographically which region in the country account for the most and least demand for the used cars?
• What are the major drivers and challenges that are shaping up the India used car market?
• What will be the future growth of the India used car market?