Dehradun, January 06, 2015
With rapidly changing technology and growing the consumerism in India, the reselling of pre-owned car & mobile phone will be a leading trend in 2015. The pre-owned car market in India will be growing steadily and becoming popular rather than purchasing new car.
The pre-owned car market in India is highly unorganised and organised players only shared 20% of pre-owned car market size while in developed countries the organised player controls 70%-80% of the market. The size of the pre-owned car market is estimated around 1.5 million in India. The size of the market is expected to grow for 2:1 with respect the new car market in India as auto industry expects to sell 2 used car for every new car.
Mahindra First Choice Wheels pointed out that they are expecting 35% growth in the multi-brand pre-owned cars business of the Mahindra group in 2015. Mahindra & Mahindra President (Group HR, Corporate Services and After-Market) Rajeev Dubey told that pre-owned car business in India is poised for steady growth in the coming years.
According to forecast made by TechNavio's analysts the Used Cars market in India is expected to grow at a CAGR of 23.46% over the period 2013-2018.
After pre-owned car, mobile is another leading category at the second-hand market place.With rapid rate of outdated mobile model due to changing mobile technology and diverse choices, the trend of purchasing used mobile is growing among Indian consumers.
The focus is entirely set on re-use rather than reduce or recycle which is extending the lifespan of mobile phone in India. This re-sale reusability capitalizes the usefulness of mobile phone and increasing its availability to all income levels of diverse Indian Society.
By the end of 2014, there were more than 1.75 billion smartphones users Worldwide, of which more than half were in Asia Pacific. Moving forward, the new smartphone connections will largely come from the Asia-Pacific region, around 900 million new smartphones expected in the region in the period out to 2017 and India will become the second largest smartphone marketplace by 2016.The growth of mobile market will also create a large consumer base who wants to buys smart phone but can't afford to pay such a high price. Simultaneously, it will create a high demand of selling-purchasing of second hand smartphones in diverse income level of Indian society.
The classified websites like thegooddeal.in helps consumers to look out wide range of options of pre-owned products and thoroughly check out the details and compare price to make the smart decision before buying the product.
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