The India used two wheeler market is expected to showcase a vibrant growth, with revenues to reach INR ~ million by 2020, growing at a CAGR of ~% during the period 2016-2020. The market will continue to grow in the coming years as rising income of low income individuals will enable them to purchase used vehicles which are much cheaper than new ones. Additionally, individuals mostly in smaller cities and towns would continue to buy a pre-owned vehicle to get hold of it. Women drivers, who are the major source of demand for scooters will be attracted by value added schemes and warranty services offered by online players.
The aspirations of Indian consumers, particularly in tier II and tier III cities will continue to rise and they will be looking ahead to own a personal vehicle. Currently, the Indian online automobile segment is not penetrated like product based e-commerce. There are more opportunities and scope of innovations from budding startups in this space. The Indian online used two wheeler market is anticipated to grow from INR ~ million in 2016 to over INR 180 million by 2020 displaying a CAGR of ~% during 2016-2020.
The industry is likely to be driven by increasing internet penetration, information search online, rising personal disposable income, rising immigration of youth in metropolitan cities, quality assurance provided by companies and rising demand from women consumers. The online market will further witness the entry of more players that will penetrate into the market to tap the growth potential as well as attract the attention of venture capitalists. Additionally, existing online players will continue to expand their services across more cities and offer additional services to gain consumer confidence. Further, the offline used two wheeler market will continue to flourish as more buyers will congregate the used two wheeler market seeking great deals as it is an excellent buying decision for an individual. Dealers who have been facing tough competition from the online classifieds will be seen associating with the online players to reach out to greater audiences.
“The online used two-wheeler market is of significant importance in the used vehicles space. It is one of the fastest growing segments in the Indian automobile segment with the rising standards of living of Indian consumers. However, the market is likely to face a number of challenges which have the major hindrances in the growth. The lack of awareness amongst Indian consumers about the existence of online platforms and the inclination of consumers to purchase two-wheelers from their relatives or acquaintances will continue to restrain the growth of the online market.” according to the Research Analyst, Ken Research.
The report titled “India Used Two Wheeler Market Outlook to 2020” provides detailed overview on the India Used Two Wheeler Market and helps readers to identify the ongoing trends in the market and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, online classifieds platforms, two-wheeler manufacturers, dealers of used two-wheelers, and new players venturing in the used two wheeler market as well as other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.