Trucks and heavy-duty vehicles experienced a decline in sales during FY 2018 before achieving 17.5 per cent year on year growth in FY 2019. After this rosy picture of crossing the milestone of selling 1 million units in one financial year, Corona struck hard in 2020.
During the prolonged lockdown, the organised business of trucks, tippers, and commercial vehicles was poorly hit. Big players in the commercial vehicles market in India are Tata Motors, Ashok Leyland, VE Commercial Vehicles, and Mahindra & Mahindra. Out of these four, Tata Motors and Ashok Leyland controls more than 84 per cent of the market.
All of these big and small players felt the impact of the pandemic. During and Post-Pandemic, they have started an aggressive approach towards an organised way to facilitate used trucks business in India.
Backed by solid market demands injected by these market leaders, several online marketplaces have come up. They help with used trucks for buy, sale & rent in India. Truckbazi.com is an excellent option for second-hand lorries, tippers, and construction equipment.
Trends towards Organised Used Trucks for Buy, Sell & Rent in India
- The study says the pandemic and slowdown have reduced sales of new commercial vehicles by around 80 per cent.
- Owners, dealers, and businesses are focussing upon used trucks and tippers. It saves their money, fastens the procurement process, and increase profit margin.
- Mahindra First Choice, Tata OK, Daimler India Commercial Vehicles, and others have entered the organised used commercial vehicles segment.
- Portals like Truckbazi.com provide an AI-based online marketplace for dealers, owners, buyers to interact and deal in the most efficient & transparent environment.
- With the entry of organised business, more people are interested in dealing with used trucks and tippers. They brought authenticity, reliability, and trust.
- Daimler India Commercial Vehicles officially entered into organised second-hand truck retail with Bharat Benz Exchange.
- Tata Motors is investing heavily in their used trucks segment Tata OK.
- Mahindra First Choice Wheels is bullish about selling used trucks after the moratorium and in a new financial year.
Competition is always beneficial for end-users. If you want used trucks for buy, sale & rent in India, the best time is now. On the one hand, organised players are betting high on used trucks and the other hand, online portals such as Truckbazi.com offers the best platform to compare and buy the desired product for your requirement. It means you have options and assurance of safe transaction.
The prospects become all the attractive with recent budgetary allocations for the construction sector. Finance Minister Nirmal Sitharaman announced 25,000 km of National Highways expansion during FY 2022-23 under Prime Minister Gati Shakti Plan in the budget speech. The budget also focussed upon universal housing.
These announcements are a great push for construction businesses. It will boost demand for trucks, increasing sales of organised used truck businesses. You can buy, sell and rent trucks to encash this perfect opportunity at Truckbazi.com.
Thus, used trucks and tippers are working as a booster for organised businesses and effectively helping in economic revival post-pandemic.