Even as the semiconductor shortage has limited the demand for new cars, the pre-owned car segment is seeing a surge. A preference for personal mobility, availability of multiple organised online platforms, including e-commerce channels, aggregators, and classifieds, have been fuelling growth. The growth rate of the pre-owned car market is expected to be 1.5x that of the new car market over the next five years.
Mahindra & Mahindra has decided to dismandle its recently acquired Boeing plant in Melbourne, Australia, which makes machinery for aircraft, and shift it to Bangalore.
Better roads, more disposable income helps boost demand.
A study by second-hand car dealer CARS 24 showed 42 per cent of the consumer feel the need for a car to travel safely now. Those who used cabs to commute before the pandemic want to buy a car for the family and a two-wheeler for shorter runs.
The bid amount will go towards three charities -- Naandi Foundation, Swades Foundation and PM-CARES -- with Mahindra contributing a matching amount, reports Rajesh Karkera.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
The pre-owned vehicles arm of the Mahindra Group plans to add 30 outlets in a few days taking the total number to 1,000.
The used car market is now 1.2 times the size of the new car market.
Buying a used vehicle is a lot more complicated. Not only do you have to worry about its condition, you also have to think about whether the price you are offering is anywhere close to its true value, reveals Sanjay Kumar Singh.
The strong domestic growth for new vehicle sales during 2008-12, which witnessed a compounded annual growth rate of 14 per cent, led to an increased inventory of used cars, thanks to trade-ins.
Promoted by conglomerate Mahindra & Mahindra, Autoinspekt, a cloud-based vehicle inspection platform, is fast emerging as a critical tool for used car buyers and sellers.
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