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
- Tesla tells some laid-off employees their separation agreements are canceled and new ones are on the way
- Taylor Swift's 'The Tortured Poets Department' is the messiest, horniest, and funniest album she's ever made
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- The Future of Gaming Technology
- Stock markets stage strong rebound after 4 days of slump; Sensex rallies 599 pts
- Sustainable Transportation Alternatives
- 10 Foods you should avoid eating when in stress
- 8 Lesser-known places to visit near Nainital