Tag Archives: Market

Share market update: Future Retail, Indiabulls Housing among top gainers on BSE

NEW DELHI: The domestic equity benchmark BSE Sensex was trading 30.66 points down at 41,099.51 on account of selling in frontline bluechip counters. Shares of Future Retail (up 16 per cent), Mindteck IndiaNSE -0.70 % (up 13.60 per cent) , Maruti Infra (up 12.61 per cent) , Zenith Exports (up 9.81 per cent) , Autoline Ind (up 9.09 per cent) , Jai ... Read More »

UK: New car market down 6.7 percent in October

Demand for new cars in the United Kingdom fell 6.7 percent last month, the automotive industry said. Some 10,348 fewer cars were registered in October than during the same month in 2018, according to the Society of Motor Manufacturers and Traders (SMMT). The figure reflects a tough environment for businesses and consumers as economic and political uncertainty continue to hit confidence, the ... Read More »

Higher depreciation rate may lift used-vehicles market

Besides bringing down resale value, it will lead to lower insurance premium: Industry players The doubling of depreciation rate to 30 per cent for vehicles bought until March 31, 2020, as announced by Finance Minister Nirmala Sitharaman on Friday, augurs well for the used-vehicles market, say industry players. A higher depreciation rate will mean that the resale value will come ... Read More »

Why online brands are going offline to tap fast-growing used car market

In India for every new car sold, there are 1.3 to 1.5 used cars sold. The ratio in US is around 2.5. Armed with $110 million funding received in January, Girnar Software-owned CarDekho is building a network of 200 used car dealerships across the country. It has already set up 31 stores altogether in Delhi-NCR, Bengaluru and Jaipur. Four new ... Read More »

Used-cars market shines bright as sales hit 4 million mark in FY19

As automakers continue to report plummeting April sales numbers, the factors triggering a slowdown in the new-cars market don’t seem to be weighing on the used-cars market. Used-cars sales crossed the 4 million unit mark in FY19, with it being 1.2x the size of the new car market. It is also poised to reach between 6.7 to 7.2 million cars ... Read More »

Why the second-hand car market is seeing a boom

Even as new car sales have slowed down in the recent past, the pre-owned car market has continued to grow over the past year and is larger than the new car market now. Consider this: In 2018-19, while new car sales were recorded at 3.6 million units, 4 million second-hand cars were bought and sold, according to a recent report ... Read More »

Used car market size can be ₹50, 000 crore by 2022: Mahindra First Choice

The size of India’s pre-owned or second-hand car market could be between 6.7 million units and 7.2 million units by 2022, with the value of the segment pegged at ₹50,000 crore, according to a sector outlook released by Mahindra First Choice Wheels Ltd, the pre-used car business of Mahindra and Mahindra Ltd. According to the report, the share of organized retail ... Read More »

Truebil bets big on used-car market growth, looks to grow 5x this year

Mumbaikars do not like black cars, but those, especially burly SUVs, sell like hot cakes in Delhi. Likewise, cars from South Mumbai find few takers, thanks to multiple stories about rust eating into the vehicles because of the area’s close proximity to the sea. These are few of the crucial analytical tools used by online marketplace Truebil.com, which sells used ... Read More »

Market for used cars shifts as sterling rates drive UK imports

Kieran Whelton with some of his UK imported secondhand cars at his car dealership in Knock, Co Mayo. Photograph: Keith Heneghan Share to FacebookShare to TwitterShare to Email AppShare to LinkedIn For the Irish motor trade, the market is as much about currency rates as cars. Dealers watch the latest forex market as closely as the IFSC currency traders. Kieran ... Read More »

Record volumes drive the used car market in January

Average used car values returned to more typical levels in January, after the seasonally affected values recorded during December, according to BCA’s Pulse Report. The headline figure of £9,298 was on a par with values seen in October and November, but the real story of the month focused on the sold volumes achieved by BCA, which reached record levels. In ... Read More »