Impact Of Covid-19 Outbreak On Pre-owned Vehicles Market
Pre-owned Vehicles Market : Introduction Rise in trend of owning a vehicle among consumers is anticipated to drive the global pre-owned vehicles market. Stringent emission norms and safety regulations have increased the price of new vehicles, which in turn compelling consumers across the globe to opt for pre-owned vehicles, as they offer a more value-for-money proposition; subsequently driving the global pre-owned vehicles market. Key Drivers of Pre-owned Vehicles Market Surge in digital consumer-to-consumer interaction across third-party online vehicle purchase platforms is anticipated to drive the global pre-owned vehicles market. For instance, according to a survey conducted by online platform OLX, in India, the demand for pre-owned/ used vehicles has increased by 25% since February 2020. Surge in number of consumers purchasing a private vehicle coupled with the global coronavirus pandemic and increased associated need for social distancing is anticipated to boost the global p...