While the worldwide scarcity of semiconductors is enjoying poorly relating to new automotive gross sales, for luxurious automotive makers, this darkish cloud state of affairs comes with a silver lining, primarily with regard to their used automotive enterprise. In.
see picturesGlobal semiconductor scarcity has inadvertently fueled the pre-owned automotive market
The impression of the worldwide semiconductor scarcity has been widespread. Automakers in India and internationally are dealing with main setbacks because of manufacturing losses and declining gross sales, and the posh phase is not any exception. However, for luxurious automotive makers, this darkish cloud state of affairs seems to come back with a silver lining, primarily with regard to their used automotive enterprise. In a current interview with Business Standard, Vikram Pawah, CEO, BMW Group India stated that the worldwide semiconductor scarcity has inadvertently given a lift to the pre-owned automotive market, because the model is experiencing excessive extra demand. Is.
ALSO READ: Vehicle retail gross sales down 5% in October 2021; Dealers see worst festive season numbers in final decade
The costs at which prospects are prepared to safe a pre-owned BMW have elevated, says Vikram Pawah, CEO, BMW Group India
Talking concerning the pre-owned automotive enterprise, Pawah stated, “BMW vehicles proceed to realize good resale worth within the pre-owned automotive market. With the present state of affairs, we’re experiencing excessive extra demand, which is the market. Prices are additionally reflecting within the costs. The costs at which prospects are prepared to purchase pre-owned BMWs have gone up.” The Bavarian carmaker’s India head additional stated that for the reason that launch of its pre-owned automotive enterprise – BMW Premium Select – in 2012, the corporate has seen gross sales of used vehicles develop by over 200 per cent.
Also learn: Buying Used Luxury Car: Advantages And Disadvantages
We additionally reached out to different key gamers within the business like Mercedes-Benz India and Audi India to see how the competitors goes. However, we’re nonetheless awaiting a response from the opposite two German automotive makers, and on the time of publishing this story, our emails remained unanswered.
Big Boy Toys founder and CEO Jatin Ahuja says there was a shift in demand from new vehicles to already used vehicles as a result of lengthy ready interval for brand new vehicles because of chip shortages.
To higher perceive the present state of the general premium used automotive area, we additionally reached out to multi-branded luxurious used automotive sellers like Big Boy Toys. Sharing the identical view with Pava, Jatin Ahuja, Founder and CEO, Big Boy Toys, stated, “Given the lengthy ready interval for brand new vehicles, there was a shift in demand from new vehicles to pre-used vehicles. There are extra choices choosing vehicles.-used vehicles, growing the gross sales of those vehicles” He added, “The demand for brand new fashions, principally vehicles that are one or two years previous, has elevated throughout this time. “
Also Read: Pre-Owned Luxury Car Segment Will Play A Key Role In The Post-Covid Era: Industry Experts
Industry specialists say that the pre-owned luxurious automotive phase will play an necessary function within the post-Covid period.
COVID-19 has in a manner helped the used automotive enterprise in India, particularly the pre-owned luxurious automotive phase. Soon after the primary wave of the coronavirus pandemic, business specialists and key gamers have already stated that the pre-owned luxurious automotive phase will play an necessary function within the post-Covid period. Specially organized pre-owned automotive enterprise, which has some inherent benefits that entice patrons like licensed automobiles and guarantee plans much like new vehicles.
0 notes
BMW Quote Source: enterprise customary
For the newest auto information and opinions, comply with carandbike.com Twitter, Facebook, and subscribe to our youtube Channel.
,
With inputs from NDTV
