Increase in workforce migration and fear of using public transportation are expected to fuel the growth of the India Used Two Wheeler Market in the future: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit 1. The trend towards avoidance of public transportation after COVID 19 and digitization of used vehicle sales/purchases will lead to higher demand for used two-wheelers in India. Even in the rural areas, where there are very few banks, customers have a lot of options to get loans. People living in rural areas, can access NBFC, which makes it convenient for such borrowers to purchase a pre-owned bike on EMI. In addition to this, EVs are going to be digitally connected, inclusive of safety features, location access etc. This might increase the tie ups which might lead to increase in down payments. 2. Emergence of female drivers expected to drive demand for scooters however, motorcycles, with their variety of models, continue to dominate the market To Know More about this report, download a Free Sample Report Commuter bikes gives high mileage and has very low maintenance cost, thereby useful for day to day commuting. Majority population is the working middle class population, who prefer lower cost bikes for day to day travel. Moreover, Spending over basic necessities have reduced from nearly ~50% of total expenditure (FY’2010) to nearly ~30% (FY’2020) of total expenditure, thereby increasing discretionary spending in the hands of the people. Due to its higher fuel efficiency, commuter bikes are preferred by millions of drivers who are part of the E-Commerce and Hyperlocal Environment. Increase in demand for E-Commerce and Hyperlocal deliveries is expected to boost the demand and hence Commuter Bikes continue to dominate the Market. 3. The price of 2W, both new and used, is constantly rising, leading to a rise in demand for financing of used two-wheelers. Visit this Link Request for a custom report Growing per capita incomes coupled with a continually increasing penchant for riding among India’s large youth population is pushing up the demand for premium bikes. Increased cost and lower affordability of used premium and sports two wheelers is acting as a catalyst for used two wheeler financing. Moreover, technological advancements in the form of a shift from combustion engine vehicle to electric vehicles, new product launches, high vehicle replacement rate are boosting the sales of used two wheelers across the country, thereby driving the two wheeler loan market. Additionally, net banking has eliminated hassles associated with long approval processes, enabling online loans to be applied for and fewer documents to be required, leading to a positive impact on the market. Additionally, presence of major automakers in the country, flexibility in terms of tenure and payment mode, negotiable interest rates based on CIBIL score is further steering growth in India two wheeler loan market. 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