Revealed in Droom’s Annual Automobile Industry Trend Report
Mumbai, February 24, 2021: Droom, the largest online Automobile marketplace recently released its annual automobile industry trend report. While the report is full of industry insights and trends, a 300% increase in digital adoption of automobiles is among the most noteworthy trends for 2020. The COVID-19 pandemic has accelerated this digital adoption and the shift is more pronounced among used cars and 2-wheelers as opposed to new ones.
Here are some of the Key Trends from the report:
- Adoption for the automobile online has accelerated during Covid-19 with Droom’s Organic and Direct Traffic leads and no. of listings have grown more than 300% post-COVID, a proxy to heightened online activities among consumers.
- India’s obsession for White and Silver holds true and these 2 colors account for 50%+ of the total pre-owned cars sold.
- India’s shift to Diesel cars continues with diesel cars going up from 35% of the total preowned cars sold in 2015 to 65% by 2020.
- The Average duration of ownership for the car is at 6 years, bikes and scooters around 5 years and the superbike are around 3 years. Directionally, the average duration for the ownership of the car is reducing (66 months in 2019 to 60 months in 2020).
- Indian and Japanese cars OEMs account for 55% of total pre-owned cars sold and this number has stayed range-bound. However, German cars have made more in-roads and have gone up from 10% of total pre-owned cars sold to 18% and Korean cars have gone down from 20% to 12%.
- The adoption of Auto transmission further increased in 2020 and has gone up from 20% to 35% in the last 6 years.
- In 2-Wheelers, Indian OEMs continue to dominate with 54% market share and 42% by Japanese OEM and the rest of the world account for only 4% of total pre-owned 2-Wheelers.
- Maruti Suzuki Swift Dzire remains the bestsellingpre-owned car and Hero Splendor Plusbest selling 2-wheeler.
For context, Droom publishes Annual Automobile Industry Trend Report for India based on all the buyer and seller activity online and its proprietary methodology. This report is based on a very large sample of over 1.1 billion visitors, 20K+ Auto Dealers, 1086 Cities, 3 million listings, $25bn in listed inventory on Droom platform with 315k sold vehicles and $3.1bn in sold GMV.
Speaking on the findings Sandeep Aggarwal, Founder & CEO, Droom said, “At Droom we have been building a 21st century digital platform and ecosystem for buying and selling automobiles. Given we are a pure-play online company and have petabytes of data on buyers, sellers, listings, brands, years, and cities for the automobile. It is always a great pleasure to share top insights from this data with the automobile industry fraternity.
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