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Check out how first-time buyers are driving up the sales of old luxury cars

Check out how first-time buyers are driving up the sales of old luxury cars

The offices and industries eventually physically opened after the fateful pandemic. The pre-owned luxury car segment is looking at robust growth in the years to come. A section of first-time buyers who deferred their plan of buying a new car due to the rental cab services' emergence before COVID are looking at purchasing new cars. First-time buyers are willing to purchase a pre-owned car and avoid the hassle of buying a new car. For top brands of used luxury cars, contact Car giant.

Demand for used luxury cars

First-time car buyers attribute for nearly half of the used cars sold in India out of the total used car market. In 2021 during the pandemic, their share in the market further increased and expanded by 8-10 %. It was observed that the millennial group emerged as buyers of second-hand luxury cars due to their lifestyle, budget considerations, and income. The luxury car segment is aiming to tap the opportunity and expand into the used car sector to capitalize on the growth wave extensively. The used car segment is flourishing exponentially and is expected to be the driving force of the business for the luxury car segment.

 Pre-owned Luxury car segment

The prominent luxury car players are preparing to establish their presence in the pre-owned car market strategically. They set on creating innovative approaches to add to the experience of highly aspiring first-time buyers. To reach out to more individuals, they are venturing into online platforms where they can present a wide range of options and list the availability of the cars. Another reason the used luxury car segment becoming popular among first-time buyers in recent years is due to their low ownership costs. The lower cost is a result of their high depreciation rate. A used luxury car that is three to four years old can be purchased at a 40% lower price than its original purchase value.

Buying pre-owned luxury cars is can be a desire for many. There are various significant benefits of buying a used luxury car that should be known to all. Car Giant offers superior quality pre-owned luxury vehicles at affordable prices. Car Giant is here to assist you with a wide range of hand-selected pre-owned luxury cars belonging to premium brands. Our team will help you to cruise away with your dream car!

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