NewswireTODAY - /newswire/ -
Noida, Uttar Pradesh, India, 2012/01/03 - Owing to the easy access of finance and rising income levels, the used car market in India is estimated to post a CAGR growth of 22% during the forecast period, says RNCOS in its latest research report.
According to our latest research report entitled,“Used Car Market in India”, from RNCOS, India represents one of the world’s largest car markets. Easy availability of finance and rising income levels are encouraging the launch of new car models, which are ultimately leading to the stupendous growth of the industry over the past few years. Besides, the entry of various international players has also contributed towards the positive growth of the used car market. Thus, the Indian used car industry possesses a significant potential with overall market growing at a CAGR of around 22% during 2011-2014 to reach 3.9 Million Units by 2014-end.
The huge potential of used car market has influenced almost all the major passenger car OEMs to venture into the used car business. Maruti True Value and Mahindra’s First Choice were among the early entrants in this market. Initially, used car business was used as a tool by the OEMs to sell their own vehicles by offering attractive exchange offers. However, with the increasing awareness of the organized used car market, the response of the buyers has also become very encouraging. As a result of the undaunted growth potential of the used car market, OEMs are considering investment in this segment.
In the report by RNCOS,“Used Car Market in India”, our analysts have comprehensively analyzed the emerging trends, including online portal and entry of OEMs in used car market, which are expected to prevail in near future. This analysis seems to facilitate our clients with greater understanding about the present and future outlook of used car market and further developments in the country. Further, our study also evaluates various strategies that will definitely offer the requisite boost to the used car market in India, and facilitate the cutting edge market intelligence to intending clients while making necessary investment decisions.
Some of our Related Reports are:
- Two-wheeler Market in India;
- India CNG Vehicle Market Analysis;
- Indian Tyre Industry Analysis;
- Vietnam Automobile Forecast 2014;
- Turkey Automobile Sector Forecast 2014.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.