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India on course to becoming a used car market: Droom's Krishna Veer Singh


India on course to becoming a used car market: Droom’s Krishna Veer Singh
Droom has clocked a massive 260 per cent surge in sales in the aftermath of Covid.
26 Dec, 2020 - 08:36 AM IST     |     By Devika Bhattacharya    
NEW DELHI: The Covid2019 pandemic sank the automobile industry in India to abysmal depths this year. With the enforcement of lockdown, people retreated indoors, businesses and offices shut down, the streets were deserted; and auto sales plunged to zero in the month of April.
While the automobile market is desperately trying to rally and recover pre-Covid numbers, one category that has shown resilience in these troubled times is that of pre-owned vehicles. Growing at 6.2 per cent during FY16-20, it too was buffeted by the headwinds of the pandemic, but since then has witnessed a steady uptick in demand. Leading this segment are digital platforms that buy and sell second-hand cars and two-wheelers, which have logged manifold increase i ....

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