Coronavirus: Used Car market may accelerate after lockdown

Coronavirus: Used Car market may accelerate after lockdown

To maintain social distance, many users of public transport are likely to consider the option of owning an affordable set of wheels.

As India awaits the lockdown implemented by the coronavirus, many are looking ahead and wondering how our dynamics will have to change in the coming times. People should be wary of using public transport to maintain social distance, be it metro, bus or train. Many passengers also will not have enough confidence in using the cab due to hygiene issues. And a large part of the population certainly cannot afford to buy a new car. There is also a lot of discussions that in this time of economic uncertainties many people would prefer to hold onto their cash rather than spend on buying a new vehicle.
In such a scenario, cars can be used as the most likely solution to the rapidly changing mobility needs of coronaviruses. This is probably the only viable option as it resolves the dual purpose of maintaining social distance without spending a fortune. There are many active players in the Indian used car market, such as Maruti Suzuki, Hyundai Motor India, and Volkswagen India, who resell their cars while others such as Mahindra First Choice Wheels and Toyota U-Trust deal in cars of all brands.
Many OEMs are now looking at their used car with curiosity as they feel that a good portion of the business may have come from there in the days of post lockdown. According to Ashutosh Pandey, MD, and CEO of Mahindra First Choice Wheels in the coming months, the use of cars is one of the sectors that stands to recover the fastest and has many things to offer. Speaking to
Carandbike, he said, "Customers are likely to down-trade and ask for value for money invested, and within autos, used cars have possibly the best value-to-value equation. Many two-wheeler customers. You can choose to upgrade. Used the vehicle also. "
He adds, "The price difference between BS6 and BS4, limited availability of BS6 vehicles over the next few months and other factors will help the cars be used as better financing options." However, he also said that these are challenging times for dealers of used cars, who are small traders and traders, and have been affected by the lockdown. According to him, the success of used cars is also dependent on new cars, as many customers come to trade their vehicles. Speaking on CarandBike the web shows Freewheeling Partha Datta of FCA India, President, and MD,  "There are going to be many people in the near future who want to switch from public transportation to more private spaces. I would hope. 2 - To see the boom in wheeler and certified used car market. I hope the 'selected for you' program in the Jeep portfolio is much higher than before Is attracting attention. "
It should be seen how personal mobility space grows in the lowest entry-level country worldwide when it comes to ownership of cars. Along with aviation and hospitality, the auto sector has been worst hit in the past month and some of it needs to be revived in the form of higher sales of pre-owned cars.
source by. CarandBike