Coronavirus: Second-hand car market may boom after lockdown
People who walk in public transport to maintain social distance may be looking for cheaper vehicles in the coming times.
India is waiting for the lockdown implemented due to Coronavirus to end and is wondering what kind of changes can be seen in our movement next time. Following social distance means being careful in using public transit.
Many people will not even believe in using cabs due to hygiene issues, and a large section of the population certainly cannot move beyond thinking of buying a new car. There is also a lot of discussions that in this time of financial crisis, people would prefer to keep their cash with them instead of spending a lot of money on buying a new vehicle.
The most likely solution to the rapidly changing needs of the Coronavirus time may be the use of second-hand cars. This is an option because one who hunts two birds with one stone, that is, maintain social distance without spending too much.
There are many players in the Indian second-hand car market, some like Maruti Suzuki and Hyundai Motor India, who only resell their cars while others like Mahindra First Choice Wheels and Toyota U-Trust deal in vehicles of all brands.
Many companies are now watching this aspect of their business more eagerly. They feel that in the days following lockdown, a good part of the business can come from the sale of second-hand cars.
According to Ashutosh Pandey, MD, and CEO of Mahindra First Choice Wheels, in the coming months, the second-hand car market is one of the sectors that will be the fastest to emerge from this crisis. Talking to the media channel, he said, "Customers may down-trade to save money, and within the auto sector, the best investment will probably be in already used cars. Many two-wheelers also upgrade and choose cars. Can. "
He further added, "The price difference between BS6 and BS4, disruptions in supply of BS6 vehicles in the next few months and lack of better loans will help in increasing the use of second-hand cars." However, he also said that this is a challenging time for dealers of used cars as these small traders have been affected due to the lockdown. According to him, the success of old cars is also dependent on new vehicles, because many customers come to exchange their cars.
On a media channel's web show Freewheeling, FCA India President and MD, Partha Dutta said, "In the near future there will be many people who want to abandon public transport and adopt private vehicles. I think in the 2-wheeler and certified used car market. It will bounce. I hope the 'Select for you' car program will be discussed more than ever in the Jeep portfolio. "
Now it should be seen that in a country where the number of cars is very less according to the total population, what kind of changes are due to the Coronavirus. In the last month, the most significant impact of this high impact has been on the auto sector after flying and hotel industries. In this challenging time, increased sales of second-hand cars can come from a good sign.
India is waiting for the lockdown implemented due to Coronavirus to end and is wondering what kind of changes can be seen in our movement next time. Following social distance means being careful in using public transit.
Many people will not even believe in using cabs due to hygiene issues, and a large section of the population certainly cannot move beyond thinking of buying a new car. There is also a lot of discussions that in this time of financial crisis, people would prefer to keep their cash with them instead of spending a lot of money on buying a new vehicle.
The most likely solution to the rapidly changing needs of the Coronavirus time may be the use of second-hand cars. This is an option because one who hunts two birds with one stone, that is, maintain social distance without spending too much.
There are many players in the Indian second-hand car market, some like Maruti Suzuki and Hyundai Motor India, who only resell their cars while others like Mahindra First Choice Wheels and Toyota U-Trust deal in vehicles of all brands.
Many companies are now watching this aspect of their business more eagerly. They feel that in the days following lockdown, a good part of the business can come from the sale of second-hand cars.
According to Ashutosh Pandey, MD, and CEO of Mahindra First Choice Wheels, in the coming months, the second-hand car market is one of the sectors that will be the fastest to emerge from this crisis. Talking to the media channel, he said, "Customers may down-trade to save money, and within the auto sector, the best investment will probably be in already used cars. Many two-wheelers also upgrade and choose cars. Can. "
He further added, "The price difference between BS6 and BS4, disruptions in supply of BS6 vehicles in the next few months and lack of better loans will help in increasing the use of second-hand cars." However, he also said that this is a challenging time for dealers of used cars as these small traders have been affected due to the lockdown. According to him, the success of old cars is also dependent on new vehicles, because many customers come to exchange their cars.
On a media channel's web show Freewheeling, FCA India President and MD, Partha Dutta said, "In the near future there will be many people who want to abandon public transport and adopt private vehicles. I think in the 2-wheeler and certified used car market. It will bounce. I hope the 'Select for you' car program will be discussed more than ever in the Jeep portfolio. "
Now it should be seen that in a country where the number of cars is very less according to the total population, what kind of changes are due to the Coronavirus. In the last month, the most significant impact of this high impact has been on the auto sector after flying and hotel industries. In this challenging time, increased sales of second-hand cars can come from a good sign.
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