EXCLUSIVE: This is what has changed in 2016 for consumers in the online car market
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Many things have changed since car e-commerce players such as
The customer has changed preferences and the online market has adapted accordingly.
AdvertisementAccording 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.
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Currently, we are seeing 50-60% traffic in online auto sales’’ says
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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.
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