More Indians Ready to Buy Used Luxury Cars Than a New One as Popularity of Pre-Owned Vehicles Surges

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Mercedes-Maybach S560 4Matic. (Image: Mercedes-Benz)

Mercedes-Maybach S560 4Matic. (Image: Mercedes-Benz)

A spurt within the rise of the biking tradition and likewise luxurious automobiles being collector gadgets has additionally propelled the rise of this class.

  • News18.com
  • Last Updated: March 11, 2020, 9:20 AM IST
  • Edited by: Anirudh SK

According to a current market survey, OLX, shouldn’t be solely the go-to platform for getting a pre-owned automotive on a price range but it surely additionally extraordinarily in style with luxurious car fans. As per current market knowledge, the demand for superbikes and luxurious automobiles is on the rise given the aspirational standing related to them.

A spurt within the rise of the biking tradition and likewise luxurious automobiles being collector gadgets has additionally propelled the rise of this class. Luxury and classic vehicles are being more and more wanted for his or her collectable worth by automotive collectors owing to the very fact as property they respect yearly in worth. What can be resulting in a surge of their recognition is the rarity/restricted version availability of those automobiles available in the market with solely a handful of such automotive/bike fashions being accessible throughout India.

Premium bikes being listed on OLX have grown by 27% from 2018 to 2019 and generate over 5 million replies each month. The bikes class alone attracts 9.three million distinctive month-to-month viewers with over 18,000 two-wheelers being uploaded on the platform daily.

Superbikes on the platform generate over 21 distinctive replies per itemizing per week since 40% of tourists on OLX bikes are additionally enthusiastic about shopping for a brand new bike thereby indicating a excessive pent up demand for pre-owned superbikes. On a mean OLX receives 9 lakh premium merchandise being listed each month of which 8-12 thousand are luxurious automobiles and 6 thousand are luxurious bikes.

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