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The report has segmented the India used car market on the basis of vehicle type, vendor type, fuel type, sales channel and region.
BROOKLYN, NY, USA, February 7, 2023 /EINPresswire.com/ — IMARC Group has recently released a new research study titled “India Used Car Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027″, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
How big is the India used car market?
The India used car market is expected to exhibit a growth rate (CAGR) of 14.2% during 2023-2028.
Opportunities & Trends in the Used Car Industry in India:
The steadily rising middle-income group and young population in India represent one of the significant factors driving the market growth across the country. In line with this, the increasing preference for personal vehicles among people over using the public commutation services, primarily due to the associated convenience of traveling and daily commutation, is another factor inducing the market growth. The market is also driven by the rise in the demand for affordable and cost-effective vehicles. Other factors, such as the rising demand for pre-owned luxury cars, flexible payment options offered by the dealers, facility expansions are the major strategic developments by the key players, and proliferating online refurbished car retail channels, are creating a positive outlook for the used car market across the India.
Market Outlook:
A used car or second-hand car refers to a car that has been owned previously and is refurbished and repaired to recover working conditions before the sale. These cars are much more affordable as compared to buying a new car and do not need registration fees and other charges. These cars provide better reliability and value for the amount paid. Used cars are typically available at several outlets, including rental car companies, private party sales, and independent car stores.
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India Used Car Market Segmentation:
The report has segmented the India used car market on the basis of vehicle type, vendor type, fuel type, sales channel and region.
Based on Vehicle Type:
• Hatchbacks
• Sedan
• Sports Utility Vehicle
• Others
Based on Vendor Type:
• Organized
• Unorganized
Based on Fuel Type:
• Gasoline
• Diesel
• Others
Based on Sales Channel:
• Online
• Offline
Regional Analysis:
• North India
• West and Central India
• South India
• East India
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Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Elena Anderson
IMARC Services Private Limited
+1 6317911145
email us here
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