EXCLUSIVE: This is what has changed in 2016 for consumers in the online car market
Advertisement
Advertisement
Many things have changed since car e-commerce players such as
The customer has changed preferences and the online market has adapted accordingly.
According to reports, unlike the new car market, India's used car market has had a relatively stable growth. From 1.6 million units (worth Rs 38,500 crore) in 2011, it is today pegged at 3.3 million units (Rs 96,000 crore). According to Nagendra Palle, MD, Mahindra First Choice Wheels Ltd, the used car or pre-owned car market will continue to grow at a steady pace of 15% to touch Rs 2,50,000 crore or 6.6 million units by 2021.
This can be attributed to ownership cycles are shortening — from 6-7 years five years back, it today hovers around four years and is likely to dip further to 3.5 years by 2021. This is helping grow the available pool in the used car market.
Advertisement
Currently, we are seeing 50-60% traffic in online auto sales’’ says
ALSO READ: EXCLUSIVE: IKEA APAC Head talks about what to expect from the upcoming IKEA store in Hyderabad
Advertisement
Companies like CarDekho have also taken to revamping their customer experience entirely using big-data analysis. From using new technology such as Virtual Reality to 3D technology, the company is making sure that from start (buying), owning to finish (selling) , they assist the customer.So if you’re looking to buy a used car, you know that these portals are your best bet. From giving you the right price for a car to after-sales servicing the online car e-commerce space is catering to everything your car might need.
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- 10 Best things to do in India for tourists
- 19,000 school job losers likely to be eligible recruits: Bengal SSC
- Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund
- Retired director of MNC loses ₹25 crore to cyber fraudsters who posed as cops, CBI officers
- Hyundai plans to scale up production capacity, introduce more EVs in India