Used Car Market Trends 2021: Technological Advancements And Move Towards Digital World Driving Revenue Growth
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. According to this survey, about 70% consumers have reduced their budget for buying a vehicle, and more than 50% of consumers prefer travelling in their own vehicles. Therefore, the trend for ...