Maruti True Value & Pre-Owned Cars Market in Kerala
Till about a decade ago, in the absence of organised players, more than 60 percent of all used car sales were C2C (customer to customer) among friends and relatives, with a ‘Circle of Trust’.
The remaining sales were managed by local unorganised dealers. In 2001, Maruti Suzuki became the first major organised player to enter the market with the launch of its used car brand – Maruti True Value.
Today, the Indian consumer has woken up to the positive value equation of pre-owned cars, and rightfully so. Pre-owned cars give higher flexibility and reach to prospective car owners, whether first-time buyers or repeat, due to the price advantage they offer. The economical prices of pre-owned cars help all types of buyers.
- First-time car buyers: Lower price point and wide variety ensure that a used car buyer gets a technologically advanced and wide range of cars at fair prices.
- Second car at economical price: Several Indian families have a need for more than one car and used cars offer them a more economically viable option.
- Upgrade to a bigger car at a lower budget: This is especially true in case of people from Tier 2 cities and towns. A used car allows them the opportunity to upgrade from a two-wheeler to a four-wheeler without stretching their budget.
Other factors responsible for the increasing popularity of used cars is the multitude of quality choices available coupled with an increase in income. All this has created a situation where people want to upgrade their vehicles more frequently. The paradigm shift from buying new cars to used cars can be attributed to the increasing organisation of the pre-owned car players.
Apart from these obvious reasons, there are other benefits that make buying a pre-owned car a popular practice, such as lower rate of depreciation, easy finance options, and hassle-free documentation along with clean history.
