Noida, UP -- (SBWire) -- 02/10/2014 --The Indian used car market is expected to grow in tandem with the tremendous increase in the interest of more and more organized players in the industry. This would lead to the greater shift of the tendency of buyers to opt for new cars to used cars. Presently, realizing the huge potential for the pre-owned car market in India many new organized players are stepping ahead in the used car market. Therefore, the pre-owned car market has started witnessing a new enthusiasm with Indians picking up used cars from the organized players, which in turn offers better car related customized services to serve the rising demands of the consumers. Considering the above factors, the Indian used car market is projected to grow at a CAGR of around 16% during the forecast period 2013-2017.
India used car market is exhibiting a huge growth over the past few years, owing to rising income levels, easy availability of finance and availability of a wide range for selection. Also, the buyers’ response towards the organized second hand car market has been encouraging with the increasing awareness about the segment. Thus, in turn the used car market is expected to witness a positive future.
The report “Booming Used Car Market in India Outlook 2017”, by RNCOS spread over 60 pages provides a comprehensive study of current present market set-up and future growth predictions of used car market in India. Our research includes analysis of different trends & drivers along with the challenges to aid players in designing their business strategies and provide them with key insights that would help them enhance their takings. The report also analyzes the Indian used car market broken down into three major basis viz. by segment, by players and by major cities along with the study of the consumer behavior towards used cars. The report also includes the price analysis of the most preferred used car models in the country. Further the report studies regulatory environment pertinent to used cars trade in order to assist the clients to gain a profound insight of the used car market in the country.
Further, through the section of financing, we have tried to provide the knowledge of current market scenario to our customers. This section would also help the financiers to get an insight about the current practices in the financing market and prevailing interest rates for used car financing in the country. Besides that, the key players section covers detailed description of major used car players in the organized sector.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.
Growing Interest of Organized Players in the Market
India used car market is anticipated to grow at a CAGR of around 16% during 2013-2017 says RNCOS in its latest research report.