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Rising Prices of New Two Wheelers due to BS VI Standards and Aversion towards using Public Transportation in the Pandemic driving the Used Two Wheeler Market in India : Ken Research

Customer preference towards upgrading to higher segment two wheelers with budget constraints driving the used two wheeler market in India”

Decrease in Replacement Cycle for Two Wheelers: The replacement cycle or average ownership period for two wheelers in India has come down from 7-8 years to 3-5 years over the past decade driven by rising aspirations of Indian consumers, frequent two wheeler launches and easy availability of financing for New Two Wheelers. Need for better exchange rates and saving on further depreciation is also bringing down the replacement cycle for new two wheelers.

COVID-19 Impact on Used Two Wheeler Market: Sudden spike in demand post lockdown can be attributed to consumers shifting from market segments of new bikes/shared mobility to used vehicles; majorly observed in Tier 1 & Tier 2 cities. While a surge in demand was seen during Unlock 1, increase in supply was not seen Owing to cash crunch, people retained their vehicles thereby avoiding shifting to new vehicle purchase for a while. Supply of used two wheelers mainly originated from individuals looking for immediate cash or from food delivery companies selling out vehicles & laying off their delivery agents in order to meet cash flow needs. As lockdown eases further, Sale of Used Two Wheelers expected to Increase mainly from non metro cities as consumers prefer to have their own vehicle as compared to travelling in Public Transport System.

Growth in Tier II & Tier III Cities: The Indian government was observed to particularly spend towards rural programs and huge road-construction projects that have led to increase in two wheeler volumes in smaller towns and cities of India. Besides rising incomes and growing infrastructure in rural areas, one of the primary growth drivers for the spurt in sales has been rise in total number of women commuters.

Consumer Shift Towards Online Sales Channels: People residing in Metro cities such as Delhi NCR, Mumbai, Chennai, Bangalore and others along with rising internet penetration were observed to shift towards online classifieds and websites which act as a one stop shop for customers, therefore displaying product features along with pricing and other factors and promoting C2C transactions. On the other hand, people residing non-metro cities prefer to buy through offline channels.

The report titled India Used Two Wheeler Market Driven by Increase in Workforce Migration and Aversion towards Using Public Transportation by Ken Research suggested that the used two wheeler market is expected to grow at a double digit positive CAGR. Rising Aspirations of young consumers along with increasing in demand from Tier II & Tier III cities is driving the used two wheeler market in India.

Key Segments Covered in India Used Two Wheeler Market, FY’2020: –

By Type of Market

Organized

Unorganized

By Sales Channel

C2C Channel

B2C Channel

By Source

Domestic

Imports

By Modification

Stock Piece

Customized

By Type of Bike

Motorcycles

Scooters

By Engine Capacity

100CC-110CC

125CC-135CC

150CC-200CC

By Replacement Cycle

2 years-4 years

3 years-5 years

5 years – 6 years

By Certification

Certified

Non Certified

By Financing

Financed

Non Financed

Key Target Audience

Two Wheeler OEM’s

Two Wheeler Dealers

Online Portals (Aggregators/Marketplace Platform)

Online Classified Platforms

E-Commerce & Hyperlocal Companies

Private Equity Investors

Time Period Captured in the Report:

Historical Period: FY’2015-FY’2020

Forecast Period: FY’2021–FY’2025

Companies Covered:

Organized Used 2W Companies

Honda Best Deal

 CredR

 Mahindra First Choice

 Bike Bazaar

 Bikers Highway

 Royal Enfield Vintage

Online Used 2W Platforms

 Droom

 Quikr

 Olx

 Bikes4Sale

 CarandBike

 Bike Jinni

Key Topics Covered in the Report: –

Market size of India used two wheeler markets

Market size of India online used two wheeler markets

Value chain in India used two wheeler markets

Market segmentation of India used two wheeler markets on the basis of market structure, stock piece & customized vehicle, distribution channels, source of

Manufacturing, type of two-wheeler, engine capacity, average ownership period, by manufacturer, body type, certification and financed & non-financed vehicle

Trends and Developments in India used two wheeler market

Growth Drivers and Restraints in India used two wheeler market

SWOT analysis in India used two wheeler market

Pre-Requisites to Enter the India used two wheeler market

Government Regulations in India used two wheeler market

Major players and their business models

Customer Profile in India used two wheeler market

Analyst Recommendations

For More Info on the Research Report, Click on the Below Link: –

India Used Two Wheeler Market Growth

Related Reports by Ken Research: –

Saudi Arabia Used Car Market Outlook to 2025-By Market Structure, By Type of Car, By Brand, By Age of Vehicle, By Kms and By Region

Malaysia Automotive Lubricant Market Outlook to 2025- Driven by Growing Vehicle Ownership & Preference for Synthetic Lubricants

Spain Used Car Market Outlook to 2023 – Growth within Car Rental Companies Coupled with Shared Vehicle Mobility Segment to drive Used Car Sales Volume in Spain

Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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