Thursday 27 August 2020

Pre and post COVID trends in used cars and bikes


TRENDS IN PRE-OWNED CARS & BIKES IN INDIA

 

The data represents trends seen on QuikrCars & Bikes platform in July 2020 (post-COVID) as compared to January 2020 (pre-COVID)

 

QuikrCars  Demand Seen

Most Searched

 

Overall,  Indians  have  been  positively

In July, the most searched car brand is

 

interested in buying pre-owned cars in July as

Maruti Suzuki with a 30% surge in searches

 

compared to pre-COVID times in Jan. This

for Maruti Suzuki Swift.

 

showcases  the  shifting  preference  of

 

 

consumers  towards  owning  their  own

 

 

vehicles over shared/public transportation.

 

 

Overall, there was an increased demand for

 

 

brands like Maruti Suzuki (67%), Hyundai

 

 

(62%), Mahindra (30%), Toyota (28%), and

 

 

Honda (11%).

 

 

Brands like Mahindra are increasing brand

 

 

awareness with many new launches. This

 

 

buzz in the market could be the reason for

 

 

spike in interest from consumers, especially

 

 

since many of these models (like XUV 300 and

 

 

TUV 300) have entered the used cars market

 

 

now.

 

 

Metros - Overall, the demand for pre-owned

Metros - Bangalore (14%) searched the

 

cars were high in Hyderabad, Mumbai, and

most for pre-owned cars in July as compared

 

Bangalore as it saw an 81%, 75%, and 73%

to pre-COVID times in Jan. There was a 77%

 

increase respectively. All three metros saw

increase in the search for Maruti Suzuki

 

an increased interest in brands like Maruti

Swift in this city.

 

Suzuki, Hyundai, and Mahindra.

 

 

 

Known to be most practical car in the

 

 

affordable segment, it has all the features

 

 

and  has  been  consistently  the  most

 

 

successful car in this category.

 

Non-Metros    Cities  like  Jaipur,  Navi

Non-Metros - Vizag (18%), Navi Mumbai

 

Mumbai, Vizag, Vijayawada, and Coimbatore

(16%), and Thane (36%) searched the most

 

witnessed higher interest in July as compared

for  pre-owned  cars.  Maruti  Suzuki  and

 

to pre-covid times in Jan.

Mahindra are the most searched brands in

 

 

these non-metros.

 

 

 

 

The pre-owned cars in the INR 2 Lakhs or

 

 

below range saw 66% increase in interest.

 

 

Bangalore (71%), Hyderabad (93%), and Delhi

 

 

(26%) saw the most interest in this category.

 

 

 

 

 

QuikrCars observed consumers preferring to keep their own vehicles for emergencies and personal use rather than selling.


QuikrBikes

Demand Seen

Most Searched

 

In Bike Brands - There’s a lot of interest to buy

Overall searches for bikes/motor bikes went

 

Honda (69%), Royal Enfield (52%), and Bajaj

up by 100% in July compared to pre-covid

 

(58%).

times in Jan.

 

Interestingly, the otherwise popular brand,

 

 

KTM, saw a dip in interest in July. This could

 

 

be because of the lockdown and restrictions

 

 

to   travel   which   made   demand   for

 

 

performance bikes like KTM lower.

 

 

Known for better mileage, affordability, and

 

 

ease of maintenance, Hero, a home-grown

 

 

brand saw 113% increase in the interest to

 

 

buy in July as compared to pre-covid times in

 

 

Jan.

 

 

In Bike Models - Royal Enfield Classic 350

Honda Activa (19%) and Honda Dio (28%) saw

 

(54%), and Honda Activa (279%) saw a major

an increase in the searches. Both these models

 

spike in interest.

are gender-neutral and are known for their

 

 

convenience.

 

The surge in interest for Honda Activa could

 

 

be because of factors like affordability and

 

 

comfort. It is also commonly known to be

 

 

gender neutral.

 

 

Metros - Delhi (183%) and Mumbai (81%)

Metros - Bangalore (7%), Delhi (51%), Kolkata

 

have shown increased interest in pre-owned

(11%) saw an increase in the searches.

 

two-wheelers. Given how local trains not yet

 

 

operational, for easy commute, consumers in

 

 

these cities seem to opt for owing a two-

 

 

wheeler rather than relying on shared/public

 

 

transportation.

 

 

Interestingly, Chennai and Pune saw a dip in

In Bangalore, brands & models like Honda Dio,

 

the interest and this could be because of the

Royal Enfield Bullet 350, Honda Activa, and

 

continued lockdown and restraints to travel

Bajaj Pulsar 200 saw an increase in searches.

 

inter/intra city.

 

 

Bikes priced below INR 50K saw a 71%

In Delhi, Honda Activa, and Royal Enfield, Hero

 

increase, especially from cities like Bangalore,

Splendor saw an increase in searches.

 

Mumbai,  Kolkata.  This  reiterates  the

In  non-metros,  Coimbatore  (37%),  Vizag

 

affordability  factor  especially  since  the

(18%),  and  Jaipur  (21%)  saw  the  most

 

pandemic and the economic slowdown that

searches.

 

followed.

 

 

 

 

 

QuikrBikes observed consumers preferring to keep their own vehicles for emergencies and

 

personal use rather than selling.

 

 

 

 

2 comments:

  1. Very useful article, in this pandemic situation people are afraid to travel in publi transports so they look for alternatives. pre owned vehicles are best options.

    ReplyDelete
  2. Second hand used cars in Delhiare often seen as a bargain option, as they are often cheaper than new cars. This is especially true if the car is in good condition, as many dealers will offer free services such as repairs and air-conditioning. However, it is important to note that second hand cars can be quite dirty

    ReplyDelete