USED CARS – RTN asia

Initial findings from Gaadi.com’s quarterly report revealed that hatchbacks from Maruti and Hyundai topped the charts as the most preferred used car brands in Delhi with equally high demand and supply. Amongst the cars from Maruti, Wagon R and Swift emerged as clear winners followed by Alto. Amongst the Hyundai hatchbacks, Santro Xing led the way. The other makes with high demands in the pre-owned segment were Amaze, Fortuner, Indica, Omni, Alto K10, and Grand Vitara. There is strong demand for Mercedes, BMW, and Audi amongst Delhi drivers in the used car space. "However, the high demand exists despite the low supply of the luxury cars in the used car market. BMW has garnered high demand for its 3-series and X5 model while models from Mercedes with high demand are C-class and E-class," the website said. The in-depth study conducted across 8 cities looked at the supply trends of used cars and the corresponding demand for the same, highlighting the buying trends of the used car consumers. The analysis reported that an average asking price for a pre-owned car lies at Rs.4.5 lakhs against the buyer demand of Rs. 4.0 lakhs. It further elaborated that 80% of pre-owned car consumers from Delhi look for budget cars in the range of Rs. 5 lakhs with the average age of the car running in about 4.9 years. The survey suggested that about brand name of the used-car and budget of consumer is most important factor while purchasing used-car. Fuel type was also revealed as a major factor in making the valued choice – with high supply (62%) and high demand (58%) for petrol fuelled type. Given the scaling fuel prices, the market also saw an 8% demand of CNG fitted cars. The hatchbacks emerged as clear winners grossing the highest supply-demand ratio and Sedans not able to generate enough demand even after relatively high supply in the used car market, it said. The SUV category on the other hand reaps higher demand despite its low supply in used car market. In the list of key parameters that buyers closely consider before buying a used car - Age/Year, Condition of the car /engine, Make/Model, Mileage and Past History Record stand out as the top 5 parameters. Other than this certification has also major role to play in buying decision of consumer; 40% more demand for certified cars vs. non-certified cars. Color and over all look of the car also play a key role with White and Silver emerging as clear winners amongst Delhi respondents.

Tag: USED CARS

Wagon R and Swift most popular used cars – survey