India is a country that has witnessed a very rapid pace in progress in the last decade. Today the people of India enjoy a high standard of living; thanks to the higher pay packets, coupled with the increase in the amount of disposable income that the salaried class possesses in the country; as a result, the country has seen a huge surge in the number of cars plying on the roads.
But, even though the number of brand new cars in terms of sales has increased beyond comprehension; the used car market in India is thriving as well. So what could the reasons behind Indian automobile giants like Mahindra and Maruti Suzuki to come up with showrooms that cater exclusively to the sale of used cars? Let’s take a peek at 2 of the biggest reasons behind it…
# Immigration of Youths to Major Metropolitan Cities
Metropolitan cities like Delhi, Mumbai, Kolkata, Bangalore, Hyderabad and Chennai etc. attract a major chunk of the educated youth of the country, since these cities have a lot of high value multinational companies that have set up bases here; therefore, new talent is always sought after.
But, as we know it, today’s youth is not as grounded as the previous generation; therefore, they are more prone to take risks and switch jobs—and it is not necessary that they would get a job in the same city. Therefore, they generally prefer to buy used cars because they are comparatively cheaper than buying a new car. And in case, they live town, they won’t feel bad about selling it off later on.
# Guaranteed Peace of Mind
Like I said in the beginning of the article “big companies like Mahindra and Maruti Suzuki have exclusive outlets for used cars” which means that you can be sure that whatever car you wish to buy are in the best possible condition; and since they have multiple outlets therefore it doesn’t matter if you are looking to buy used cars in Hyderabad, Delhi, Chennai—If you want it, you will find one outlet. Also, for an additional amount, individuals can get the same car backed by a 1 year guarantee. Therefore, people who want to either own a car for a short duration or are a little bit short on cash, find second hand cars quite appealing.
The used car market is not just thriving but it has grown over the years, people all over the country buy and sell used cars on a daily basis. Not only are big companies tapping into this market with customized offers like free services, regular tuning and the likes; but they often give discounts as well, which in turn cuts down the overall price even more.