market research report : used car market in india 2015 - press release

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FOR IMMEDIATE RELEASE India Used Car Sector Outlook – Expansion of organized sales channels is the key to increased demand Netscribes, Inc. launches a report on the Used Car Market in India 2015 covering a market with strong growth potential. It is a part of Netscribes’ Automotive and Logistics Series. Mumbai, India – April 21, 2015 Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Used Car Sector in India 2015’. Changing mentality of the middle class population, with Indians becoming more comfortable with the concept of driving a car previously owned and driven by someone else, coupled with rise of organized players in this segment are the key drivers for used cars in India. Netscribes’ latest market research report titled Used Car Market in India 2015 highlights that the market is on a growth trajectory mainly owing to the expansion into used car business by established automotive players. With the organized players stepping in, the used cars market has benefited from fair deals, warranties, better retail network, credibility, transparency, high quality and easy availability of finances. Though the general economic slowdown has hit overall car sales, the used cars market has seen an uptrend as impact of the economy on this industry is more muted than for the new car industry. This is because in the used car business, volumes are generated by cars changing hands. Apart from these, growing online portals for used cars, easy internet accessibility and availability of more advanced pre- owned cars adds strongly to the future prospect of this business. Cars being aspirational products, the demand is much driven by the increase in disposable income of the masses as well. Impressive offers on new cars that major automotive manufacturers come up with at regular intervals pose a threat to the used car business. Various new models in the hatchback, saloons, SUV and MPV segment much attracts the fancy of buyers for their affordable and economic pricing. Also, buyers incurring extra costs, say insurance or taxes, and also hassle of checking various documents are likely to reduce preference for used cars. However, focus on innovative marketing and sales strategy including digital marketing, competitive pricing and an insight into consumer satisfaction and preference on the type of seller that he is purchasing from, namely franchised, non-franchised or private dealers, are the key strategies to expect a sustainable growth trajectory in the used car business. For more details on the content of each report and ordering information please contact: Phone: +91 22 4098 7600 E-Mail: [email protected] About Netscribes Netscribes (www.netscribes.com ) is a pioneering knowledge consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment & business research, business & corporate intelligence, publishing services and customized knowledge database creation. At its core lies a true value proposition that draws upon a vast knowledge base. For more information please write to [email protected]

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Page 1: Market Research Report : Used car market in india 2015 - Press release

FOR IMMEDIATE RELEASE

India Used Car Sector Outlook – Expansion of organized sales channels is the key to increased demand Netscribes, Inc. launches a report on the Used Car Market in India 2015 covering a market with strong growth potential. It is a part of Netscribes’ Automotive and Logistics Series.

Mumbai, India – April 21, 2015 – Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Used Car Sector in India 2015’. Changing mentality of the middle class population, with Indians becoming more comfortable with the concept of driving a car previously owned and driven by someone else, coupled with rise of organized players in this segment are the key drivers for used cars in India. Netscribes’ latest market research report titled Used Car Market in India 2015 highlights that the market is on a growth trajectory mainly owing to the expansion into used car business by established automotive players. With the organized players stepping in, the used cars market has benefited from fair deals, warranties, better retail network, credibility, transparency, high quality and easy availability of finances. Though the general economic slowdown has hit overall car sales, the used cars market has seen an uptrend as impact of the economy on this industry is more muted than for the new car industry. This is because in the used car business, volumes are generated by cars changing hands. Apart from these, growing online portals for used cars, easy internet accessibility and availability of more advanced pre-owned cars adds strongly to the future prospect of this business. Cars being aspirational products, the demand is much driven by the increase in disposable income of the masses as well. Impressive offers on new cars that major automotive manufacturers come up with at regular intervals pose a threat to the used car business. Various new models in the hatchback, saloons, SUV and MPV segment much attracts the fancy of buyers for their affordable and economic pricing. Also, buyers incurring extra costs, say insurance or taxes, and also hassle of checking various documents are likely to reduce preference for used cars. However, focus on innovative marketing and sales strategy including digital marketing, competitive pricing and an insight into consumer satisfaction and preference on the type of seller that he is purchasing from, namely franchised, non-franchised or private dealers, are the key strategies to expect a sustainable growth trajectory in the used car business. For more details on the content of each report and ordering information please contact:

Phone: +91 22 4098 7600 E-Mail: [email protected]

About Netscribes

Netscribes (www.netscribes.com ) is a pioneering knowledge consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment & business research, business & corporate intelligence, publishing services and customized knowledge database creation. At its core lies a true value proposition that draws upon a vast knowledge base.

For more information please write to [email protected]