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12 August 2015 - BCA Blog: BCA’s Head of Commercial Vehicles, Duncan Ward – Is seasonality a myth? The automobile market across the country continues to reel under economic slowdown and recession.
Demand, according to Siddesh Desai, sales manager, Chowgule Industries’ Maruti True Value, is driven by a variety of choice and the constant need to upgrade due to rising income.
Chowgule’s True Value is doing an average of 170 pre-owned cars a month, points out Desai, which is 12 per cent higher than the previous year. Ground level checks reveal that sales of used cars are increasing for combination of factors. Young individuals who have come into the job market are also keen to go in for second-hand cars.
Availability of car finance is improved although interest rates and EMI depends on the model, age, kilometres travelled and general condition of the car. Commercial vehicle financing company Shriram Commercial Vehicle Finance is fully into financing of pre-owned cars these days and benefiting from it. As a significant player in financing of pre-owned vehicles what is your assessment of the used car market in Goa? If 40 per cent of the population was dependent on mining there is a good 60 per cent remaining in the economy. The mining closure has hit most NBFCs including Shriram, adversely affecting vehicle financing. We are trying to settle with our tipper borrowers but they have no money even to make settlement.
Whilst researching for my last article on Buying and Selling A Car in Dubai I grabbed the opportunity to take a few photos of some rare cars for sale at Al Awir Used Car Market, in Ras Al Khor, Dubai.
Just an everyday sight, my Mini JCW parked next to a Rolls Royce Wraith (with zero kms) and Lamborghini Gallardo.
Enter your email address to subscribe to this blog and receive notifications of new posts by email. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. A selection of the used vehicles that were on display for sale at Used Car Flea Market held last year as part of the Jamaica Automobile Association (JAA) Autofest auto fair. If you want the best deal for the sale or purchase of a used car in June, then the place to be is at the JAA Autofest, according to the Jamaica Automobile Association. Defying economic slowdown and recession in automobiles, sales of second hand cars are zipping.


Lot of regular income individuals who are finding new cars outside their budget are settling for used cars, he says. Other dealers point out to a similar double digit growth rates in the pre-owned car division. Prices are routinely hiked and an entry-level buyer who wishes to switch from a scooter to car is put off by the cost.
With salaries of Rs 15,000- 20,000 per month they are quick to shell out EMI on reasonably priced old car. All manufacturers have a pre-owned car division where they repair and spruce so that a used car is as good as new. All-India sales of used car are robust and therefore the sale ratio of new car to used cars is nearly touching 1:1 these days.
There is a steady uptrend in sales reflected in higher numbers done by pre-owned car division of companies as well as by unorganised agents. They are first time buyers and modest wage earners who because of advancement in life are going in for a car.
There are grocery shopkeepers, cashew dealers, dairy farmers, gaddo owners, even vegetable vendors who are going about their work and coming up in life.
We discusses the opportunities the secondary market offers, especially in the light of the expected new launches in 2011The new car market in India grew at a maddening rate of more than 30 percent in 2010. The Used Car Flea Market will be staged at the JAA’s headquarters, 7 Central Avenue, Swallowfield, Kingston, on Saturday, June 2.
The segment, feels a NBFC car financier in Panaji, is quite untouched by the stress of economic uncertainty of the past two years. The market, says Shriguru Hunagund, financed consultant, Porvorim, is not just confined to upgrading individuals going in for hatchbacks or mid-priced cars. Maruti True Value, says Desai, provides one year warranty for old cars and enquiries at Alcon Hyundai showroom, Porvorim reveals a two free service within the one-year warranty period. Our market analysis reveals that cars certified by manufacturers are selling robustly and also non-certified cars by local agents. When a motorcycle price is Rs 75,000, on road, people prefer paying little more for a second car. We have moved into a new office at Panaji from Porvorim and also expanded our team to take in 16 more people for marketing and another four-five people for back office work.
However, the used car market, which is still largely unorganized and less talked about, grew at an even faster pace. Many luxury car manufacturers are also entering the market while existing players in the market are expanding their number of used car outlets. The report begins with an insight to the sales of used cars (in volumes) and growth, comparison of ratio of used car sales to new cars in India and the rest of the world as well as the sales of new cars vs.


Autofest 2012 will be held on Saturday, June 2, 2012 at the JAA’s 7Central Avenue Headquarters, Swallowfield.
The one-day Used Car Flea Market will be a unique opportunity for buyers and sellers of used vehicles to meet, and conduct business, as well as finalise sales on the spot.
First time buyers in fact prefer that an old vehicle take the brunt of knocks from beginner driving as they prepare for better conveyance in future. It also includes businessmen who purchase high-end four-wheelers such as Toyota Fortuner and Skoda because they want to claim depreciation.
In the Mapusa market, there is an agent who sells seven-eight second-hand vehicles a month. Mind you, the tendency of all these people is to pay EMI on time and they are our best customers. Previously, tippers were the main segment but change in product portfolio and focus in financing of used cars has helped us.
Although no official figures are available, rough estimates suggest that the calendar year 2010 witnessed a growth of more than 40% for the Indian used car market.
Dealers are finding it easier to sell old cars these days than new vehicles, says the financier. The market price of the car is Rs 24 lakh and both buyer and seller are very happy at the deal, he says.
These sites are popular but majority in Goa prefer to buy through referrals from friends, manufacturers or from an agent. All-India, it is a segment which is unaffected by the auto industry recession and the trend is similar in Goa. Most agents these days see through the deal properly and ensure car finance, insurance and transfer of papers to their clients. The key challenges identified include the launch of less costly cars in new car segment, limited choice and used car buyers having to incur extra cost and hassle of checking various documents. Competition section provides a snapshot of the players in the market including information regarding their launch, business highlights and financials, expansion plans providing an insight into the existing competitive scenario. Secondly, many people who earlier operated mining tippers have diverted their business to commercial cars.
The used car market gives such customers the option to buy the car they need, at the price they can afford.



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03.05.2014 admin



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