Used cars congest Indian roads as sales spike
22 Jun 2009 1:15 PM  by Rameshwar in Indian Car Market ,

For a bit more than the novel hatchback it is possible to purchase a three-year-old SUV in near mint condition , said Indian insurance executive K. Shankar.

In order to augment the new car sales and create customer loyalty , a host of global and local auto companies provide striking trade-in agreements. Also in India , purchase is increasing for the used car.

Specialists are concerned regarding the country's rusty infrastructure won't maintain with the volume of traffic , creating awful blockage and more traffic accidents in a country with over One million cars entering to India's roads in each year.

The World Bank said that there has been a decrease in the rush hour speeds to 5-10 km an hour in the vital areas of major cities with the growth in vehicle ownership.

In the past five years , the number of vehicles on Indian roads has developed at an average pace of 10.2 % yearly and 50%of roads were in a condition of disrepair and only 30%of highways had two lanes or extra.

The industry specialists said that the market for the used car in India was dominated by local dealers and roadside garage mechanics. Adding , 90% of the market is controlled by them.

However with pre-owned certified car programmes many global car producers such as Hyundai Motor , Ford Motors and General Motors have stepped into the market. In the start of this year , Tata Motors , the India's largest vehicle producer also entered into the market.

Further at significant discounts , patrons can get new cars in exchange for their older ones. And they are then revamped and sold with assurances.

General Motors India's Vice President P. Balendran said that the company will be able to make sure about the customer loyalty and it will also echo in the sale of novel cars.

In the previous fiscal year closing March 2009 , the sales of the new passenger vehicle were about 1.5 million units and the sales of the used cars were about 1 million , as per the industry ballpark figure.

Jayesh Jagasia , founder of VeriCAR said that in the grown-up markets such as the US and Europe , the used car sales are in manifolds of novel car sales and in India the company is looking to reproduce this type of trend.

In the year 2007 , the number of people killed in the road accident is around 100 , 000 Adding , the car accidents are one of the foremost concern with India's road toll is one of the worst in the world.

Moreover in the previous fiscal year closing in the month of March , due to the financial crisis the growth in India has slowed to 6.7 percent.

Umang Kumar , co-founder of Gaadi.com , a search website for used and new cars said that in the past one year the attention in used cars has increased due to the non-availability of loans and ambiguity that is prevailing in the market.

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