The Indian car industry is suffering from a major slow down in recent times with sales falling rapidly compared to last year. But the used car market is still going steady and it is not expected to slow down either. The sales of used cars is growing at quite a decent rate and Indians are buying used cars unlike earlier when buying used was a taboo and many problems were associated with them. Now things are looking up with almost 16 percent of all cars bought in India are used with a 10 to 15 percent growth rate.
The quality of used cars has gone up quite a notch and many certified used car dealers have entered the market. The availability of well maintained cars from many reputed and reliable brands too has increased owing to many global players entering the Indian market. The used car companies are getting more organized and quality control is higher. The value for money that used cars offer is undeniable and individuals can get relatively new reliable cars of a higher segment at a very lucrative price.
With the sales of new cars at an all time low, the sourcing of good used cars may prove slightly difficult in the future as not many people are buying new cars despite massive discounts and offers from car manufacturers. The availability of used cars will be slightly tight, but still buyers for them will always be there. Car manufacturers are really pushing their limits to attract customers to their showrooms by offering massive discounts and many other innovative schemes.
Car manufacturers like Tata Motors, Chevrolet, Skoda are giving discounts as high as Rs. 50,000/- to a lakh on their cars. Vehicles above the Rs. 10 lakh mark are getting the highest discounts. This makes it the best time to buy a new car because normally discounts are offered only in the festive October to December period and at this time of the year, all discounts are taken back.
Source – DNA