New Delhi [India], June 12 (ANI): Leading full-stack auto company CarDekho on Friday has reported 99 per cent recovery in customer traffic for used car segment after the lockdown whereas 77 per cent customers are back to search for new cars.
A study conducted by the company shows that with the lifting of the lockdown, there is a major shift in customers preferences across the segments, with the hatchback and low-budget being the most sought-after cars across segments.
The traffic from orange and green zones for new cars pan-India has recovered 84 per cent whereas from red zones it has recovered 58 per cent. It signifies the customer sentiments improving strongly in green and orange zone with red zone fast catching up as customer search for their desired car has now resumed.
The report said that the recovery rate of cars in the Rs 1 lakh to 5 lakh segment is the highest. Among SUVs, Rs 5 lakh to 15 lakh segment has the highest share whereas sedans in the Rs 15 lakh to 20 lakh range are the most searched cars.
MUVs within the price range of Rs 10 lakh has been most sought during this period. The premium segment share has low volume (10 per cent) and a very low recovery rate (50 per cent).
Further, Maruti and Tata cars are most searched by consumers with Maruti having 23 per cent share in new car traffic and Honda the highest share in the mid-segment cars with 7 per cent share in traffic. The rest have 4 to 5 per cent each.
The study was conducted between February 17 to March 17 termed as the pre-lockdown period, the mid-lockdown period between mid-March till mid-April and post-lockdown between May 12 to 28.
It was also seen that the traffic from the orange zone for used cars was the highest, with most coming from Karnataka. In the red zone, traffic from Maharashtra region for pre-owned cars was the highest.
New car and used car business have seen transformations in the consumer journey, said Co-founder and CEO of CarDekho Amit Jain.
"The pandemic outbreak has changed people preferences and we believe they will opt for personal mobility solutions rather than shared mobility. We are hopeful that the sales recovery will also be fast with the lifting of the lockdown," he said in a statement. (ANI)