Automobile sector may still be reeling under the impact of extended economic slowdown complicated further by coronavirus lockdown. But there is a demand surge in the second-car markets.
Delhi’s biggest second-hand car market, which had been witnessing extremely cold response for the last two and a half months, is now buzzing once again.
With the lifting of coronavirus restrictions in unlock 1.0, customers are thronging to this car market of Delhi. Crowds of people are gathering here with people looking to bargain for the best vehicle in their range.
People are wary of taking public transport for commuting. Small family cars are in prime demand.
“Our business had been completely stalled during lockdown. We found it difficult to bear even the maintenance cost for the cars. But, now we have started working again. Demand has started surging. People are looking for small family car, instead of SUVs,” said Lokesh Munjal, president of the Association of Moti Nagar Car Market.
Under the prevailing Covid-19 sentiments, public transport is not being considered a safe option. Delhi Metro trains are not in operation as of now. Buses under the Delhi Transport Corporation (DTC) are plying with limited occupancy but people are hesitant in travelling in them.
Mujal said, “Right now, we are receiving more customers who are working couples. Husband and wife are working and what they ask for is a small family car. These are the initial days of rise in demand for cars, so the prices are low.”
What Mujal said is corroborated by a prospective buyer of the secod-hand car. “I travel from Delhi to Noida for work. Earlier, I took metro. It is closed at the moment. It is not safe to travel by bus,” said Prabhakar Kumar, who works in a private company in Noida.
He said, “I think it is more appropriate to use a personal car. That is why I have now decided to buy a second-hand car for myself and family.”
Delhi Metro suspended its operations in March following the nationwide lockdown. While malls, restaurants and other public places have been allowed to resume operations, there is still no green signal for Delhi Metro, which has become the lifeline of the Delhi-Noida-Gurgaon-Faridabad region over the years.