Used car market is thriving in Kerala right now. The demand for used cars are increasing as the day goes by. The Market is expected to hit a 15.10% CAGR increase by the year 2029. At present, the used car market is 1.5 times bigger than the new car market. So, why does used cars have such a huge demand in Indian automobile sector ? here are some of our insights.
One of the main reason people hesitated when buying used car is their concerns on quality. This has been addressed by the new age of used cars business like MeraCars. The cars are thoroughly inspected by experts and refurbished before putting on sale. This ensures the customer gets a near perfect product with a much less price than a new car. Dealerships are also providing offers to customers base on their purchase. All this attracts more customers into trying used cars.
Technology has revolutionized the used car business by making it accessible to a wide range of customers. You can now purchase a car from miles away without much hassle. Dealership apps and websites have helped buyers and sellers to connect easily.
Middle class families are the biggest consumers of used car market for the past decade. Owning a car has actually became part of the culture and people are willing to spent on used cars as it’s cheaper than buying a new car. Modern used car dealerships like MeraCars offer financial assistance and warranty options which makes families to opt for used cars.
Recent sales chart shows a hike in the demand for SUVs in Kerala. People of Kerala has always loved SUVs since it’s an ideal vehicle for the terrain of Kerala. Kerala is rich in greenery and mountainous landscape, where SUVs are a better option for travelling. With the coming of compact SUVs and 4x4 vehicles, people can now afford this genre of vehicles without losing their . Companies like Mahindra and Toyota dominate in this genre in terms of quality and resale value.
