The international used car valuation and market intelligence provider autobiz has announced that it will start publishing its data on the Indian market on a regular basis as of Q3.
autobiz began monitoring the Indian used car market in 2012, and the company is now collecting data on a regular basis for its car valuation programs and dealer inventory monitoring. According to Emmanuel Labi, autobiz CEO, sales on the Indian used car market are skyrocketing: ‘We started with 300,000 monthly price scans in 2012 and are now up to over 1.5 million price scans per month.’
Last year, boosted by strong domestic demand, India’s economy grew by 7%, reaching the level of China’s growth rate in 2015. The new car market grew by 6% to 2.7 million units during 2015, while the used car market is expected to grow from 3 million units in 2015 to 5 million units in 2020.
After launching in Brazil and China in 2015, autobiz car valuations will be made available for India beginning in the 2nd quarter of 2016. This will complete the panel of 24 markets where the company collects and delivers used car market intelligence.
Jérôme Fondraz, Communication Manager