By: Himanshu Arya
The unfettered love for SUVs can be deciphered from the way they are clocking demand in the market. With customers being amazed by the high-end features and performance of the car, the fondness for SUVs is penetrating the pre-owned luxury car segment as well. Stirring excitement in people, masses are flocking to purchase pre-owned luxury sports utility vehicles to experience extravagance within budget.
The rising preference for SUVs stems from the consumer’s perception to associate the car with luxury. They seek the model invariably to experience a certain degree of elevation in status symbol. This has been a major precursor in steering the shift from hatchbacks and sedans to SUVs over the years. There is no denying that SUVs come with the ability to offer stronger road presence when compared to hatchbacks. They allow for a more commanding presence on the road while giving access to control the car with the help of an elevated driving position.
Following the ongoing trend, let’s discern the various factors favoring SUVs to top the list in the pre-owned luxury car segment.
Suitable for off-roading
People nowadays are very much driven by the desire to go on long road trips. The idea of traveling, adventure, and exploration makes for the right concoction, giving impetus to the surging demand for SUVs. Features such as powerful engines, high ground clearance, four-wheel drive, etc. make it the right choice to maneuver the rough and unpaved terrain while not compromising the comfort of the occupants during off-roading. Based on the advanced features, the model comes with versatility to serve multiple purposes, which includes complying with everyday commuting and giving an unparalleled experience for long journeys.
Safety
In the entire purchasing process, safety acts as a deciding factor in the selection of the car. Present-day consumers are quite cognizant of the safety features in a car. While looking for comfort, feel, and opulence, they show no intention of compromising the safety of the car. Taking consumer behavior into account, SUVs come with advanced safety features. It has an edge over others in the market owing to the strong built that comes with the ability to take the collision force more effectively when compared to other cars. In addition to this, parking assistance, intelligent alerts, driver assistance features, and many more, further help in meeting the safety demands of the customers. Likewise, the cars are well supported by more than four airbags to provide extra protection to the occupants of the car.
Good Resale Value
Dwelling on the demand for SUVs in the market, they offer good resale value as compared to sedans. Gauging the trend, the Audi Q3, Q5, Q7, Q8, Mercedes GLC, GLE, GLS, BMW X1, X3, X4, X5, X7, Volvo XC40, XC60, XC90, Range Rover Sports, Defender, Velar, Discovery Sports etc. are some cars that top the preference list in the market. They come with high-end technologies, engine power, and advanced safety features, in addition to an impressive design.
Organized players instilling faith in the pre-owned car market
Gauging the long waiting period for SUVs, consumers are finding solace in the pre-owned luxury car market. With more and more organized players penetrating the pre-owned car segment, they are creating a transparent ecosystem for customers to purchase pre-owned cars. From ensuring cars are in good condition to providing warranties and assisting customers with suitable financial options, the players are working towards giving customers the same level of purchasing experience as that of buying a first-hand car. It is acting as a major factor in disintegrating the prejudice around pre-owned cars. Therefore, discouraged by long waiting periods, consumers are shifting to pre-owned luxury SUVs to fulfill their desire to own a sports utility vehicle.
The author is the Co-Founder and CEO of Luxury Ride
Disclaimer: Views expressed are personal and do not reflect the official position or policy of Financial Express Online. Reproducing this content without permission is prohibited.
