In its findings, Olx said the country’s largest car manufacturer, Maruti Suzuki India, is the most popular carmaker among Olx consumers with Alto 800 and Swift receiving the highest enquiries.India’s pre-owned automobile market is growing at 15% year-on-year, supported by a fast-growing base of young population, rapid urbanisation, changing consumer needs and internet penetration.
Online marketplaces played an essential role in nurturing this segment for OEMs, neighbourhood dealers and end consumers. Some of the trends observed includes digital marketing (which is influencing the buying of pre-owned vehicles). Consumers prefer to shift towards premium cars in urban and semi-urban markets.
Non-metros are where the majority of unorganised trade takes place in India, said Olx, India’s leading consumer-to-consumer marketplace for pre-owned vehicles, in its first tri-annual edition of automobile market trend report called Auto Note.
Top-end sedans and luxury models add up to 38% of the total four-wheeler listings. Hatchbacks are close to 45 % of the listings, SUVs take about 10 % of the pie and commercial vehicles have 7% share, said the Olx report.
In its findings, Olx said the country’s largest car manufacturer, Maruti Suzuki India, is the most popular carmaker among Olx consumers with Alto 800 and Swift receiving the highest enquiries.
In the sedan category, Honda City is popular among the buyers while Skoda’s Superb receives the highest number of enquiries in the premium sedan category compared with any other model.