OLX Autos, India’s omnichannel marketplace for pre-owned vehicles has reported increased demand and supply for pre-owned vehicles.
The company, in order to understand the impact of Covid’s on the pre-owned two-wheeler market, analysed data from over 4,000 cities and across over one million users on the platform.
According to the data, there has been a 20 per cent jump in user demand for pre-owned two-wheelers in March 2021 vs March 2020. OLX also noticed a 6 per cent YoY overall increase in the supply of pre-owned two-wheelers.
According to the data, metros control the lion share of the demand. The top five cities in terms of demand were Chennai, Bengaluru, Hyderabad, Delhi and Pune in March while the key non-metros generating the most demand for pre-owned two-wheelers were Jaipur, Surat, Lucknow, Nagpur & Coimbatore.
Bajaj and Hero Motocorp were the most popular pre-owned two-wheeler brands. On a YoY basis, demand for Bajaj motorcycles increased by 29 per cent while demand for Hero motorbikes grew 40 per cent. The top 5 OEM’s in the pre-owned 2 wheeler market are Bajaj, Hero Motocorp, Yamaha, Royal Enfield and Honda, as per the report.
On a YoY basis, Bajaj Pulsar remained the most popular 2 wheeler model in the pre-owned market. Demand for Bajaj Pulsar shot up by 18 per cent, Hero Splendor was up by 43 per cent on a YoY basis, for Royal Enfield Classic it was up by 4 per cent in the same time frame, OLX said.
In terms of supply increases, Honda, Bajaj and Hero Motocorp were the three most popular brands listed for sale on OLX. On a YoY basis, the top three brands witnessed a jump of 16 per cent in their supply.
Bengaluru, Hyderabad and Delhi were the top three cities listing the most number of pre-owned two-wheelers for sale. Honda Activa, Bajaj Pulsar and Hero Splendor were the three most listed models.