Used Cars Business Is on Peak in Gujarat

Posted in : News

(added few years ago!)

Used car business in India is rapidly making its foothold even ahead of new cars industry and now same could be witnessed by analysing the sales counts of Gujarat, where divergent to common drift, used cars business has emerged as new interesting automotive area of growth in the state. Though, 2012 had been very sluggish for new cars market, used cars business in the state of Gujarat recorded higher growth with 15,000 used cars sold every month in the past year.

According to a dealer, in Gujarat, per month around 14,000 new cars are bought including 60% of them related to Hyundai and Maruti. It is clear from the datas that people in Gujarat sell off more vehicles and but buy fewer new cars. Moreover, many first time buyers are now more interested in going with used cars resulted in a marginal rise in demands for these cars as compared to new cars.

Sandip Kumar, General Manager-Sales of Manan Autolink said "Increasing investment in real estate has reduced the money rotation, which resulted out in down market for new cars. Additionally, stock market investment and high interest rates are also some other reasons for sluggish new cars demands."

In Ahmedabad, around 2000 used cars are being sold every month and most of the demands in this segment are for the cars categorised in the range of Rs. 2 lakh and Rs. 2.5 lakh. To be more precise, Alto and WagonR contribute a lot in the business. However, diesel cars add 75% of used car business, which are only 40-45% in case of new cars business.

If talk about financing the cars, in the state of Gujarat, around 85% of total sold cars are financed,  while, in the used cars business this ratios is only 30%.

Tags : Used car, India, Gujarat, 2012, Hyundai, Maruti, Sandip Kumar, Manan Autolink, Ahmedabad, WagonR, diesel, Alto, WagonR

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(added few years ago!) / 929 views
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