Survey, Auto Information, Automobilnews
New Delhi, Amid subdued incomes and low demand within the auto section attributable to the pandemic, leasing demand for used vehicles has elevated compared to model new autos, in keeping with a latest survey.As per the survey, gender clever, used automobile patrons are 80 per cent male and 20 per cent feminine, and age clever, price range vehicles are most well-liked by shoppers within the age group of 24-27 years, mid-range sedans most well-liked by these within the age group of 30-32 years and luxurious vehicles largely most well-liked by these round 38-40 years of age.
The used automobile market is 40 per cent metro and 60 per cent non-metro whereas the brand new pattern of used automobile leasing contains 90 per cent metros and 10 per cent non-metros, confirmed the survey by ‘PumPumPum’, a start-up within the used automobile leasing section.
The survey, performed on over 10,000 shoppers throughout metros and non-metros together with Delhi, Mumbai, Bengaluru and Chennai, additionally indicated that the sharpest dip within the automobile worth is within the first 12 months of its buy.The survey discovered that the first-time automobile patrons had been the bulk (55 per cent) of used automobile patrons, adopted with 41 per cent of those that have a number of vehicles within the household and solely 4 per cent who had been substitute patrons.
Respondents indicated affordability as the key motive behind deciding on a pre-owned automobile. Different causes for getting used vehicles are worth for cash, second automobile for the house-hold, studying driving amongst others.
Area-wise, north India has the biggest inhabitants of used automobile patrons (36 per cent) adopted by west (27 per cent), south (26 per cent) and east (11 per cent).
On the rising pattern of leasing used vehicles, Sameer Kalra, Co-Founder & Chief Progress Officer at PumPumPum, mentioned: “As in comparison with shopping for and sustaining a automobile for twenty-four months, a leased automobile for twenty-four months seems to be extraordinarily inexpensive and hassle-free. Points associated to lack of belief on sellers, low penetration of financing in used automobile house, threat of repairs in a used automobile, non-transparent pricing, low resale worth of the third hand used automobile leading to excessive price of depreciation are a number of the components pushing the expansion of used automobile leasing in India.”
Of the altering automobile purchaser behaviour within the present situation, Tarun Lawadia, Founder & CEO, PumPumPum, mentioned: “Within the new knowledgeable world order, pre-owned automobile leasing is transferring from being a way of life and an aspirational product to a wonderfully positioned finish to finish mobility resolution.”