Popularity of Pre-Owned Luxury Vehicles Surpasses That of New Ones

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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 objects has additionally propelled the rise of this class.

  • News18.com
  • Last Updated: March 10, 2020, 1:14 PM IST
  • Edited by: Anirudh SK

According to a latest market survey, OLX, will not be solely the go-to platform for getting a pre-owned automobile on a price range nevertheless it additionally extraordinarily widespread with luxurious car fanatics. As per latest 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 objects has additionally propelled the rise of this class. Luxury and classic cars are being more and more wanted for his or her collectable worth by automobile collectors owing to the actual fact as belongings they respect yearly in worth. What can be resulting in a surge of their reputation is the rarity/restricted version availability of those automobiles out there with solely a handful of such automobile/bike fashions being out there 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 day by day.

Superbikes on the platform generate over 21 distinctive replies per itemizing per week since 40% of holiday makers on OLX bikes are additionally curious 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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