bizzday October 22, 2019 No Comments
Online Automotive Business For Sale
Automotive Business For Sale Industry in India contributes to around 49% of the country’s manufacturing GDP. The decline in the growth of this sector is no longer a hidden truth. Sales of passenger cars dropped by a whopping 33.40% as compared to the same month last year.
Similarly, two-wheeled vehicle sales went down by 22.09% and overall entire auto industry went down by 22% compared to last year. Will these figures provoke manufacturers to have automobile business for sale online? These are the moments when online business brokers like Bizzday.com can come handy.
Numerous reasons can be jotted down for this decline in the auto industry.
- BS6 emission norms: As per government statement by April-2020 BS6 emission norms will come into effect and people are waiting until then to buy a new vehicle; as there is no clarity among manufacturers if current vehicles are upgradable to BS6.
- Difficulty in getting a loan: Due to economic crisis, the bank is careful about lending loans and NBFC’s (Non-banking financial companies) are in a crisis, hence it’s been harder for a common man to get loans to buy any kind of vehicle.
- Higher regulatory prices: The increase in road tax, registration tax, and insurance costs, not forgetting the higher GST on non-electric vehicles, the overall price of vehicles increases significantly becoming a burden on consumers. Will this lead to automotive business for sale?
- Pre-owned car market: The pre-owned car market has undergone a lot of change since the last decade and their business is booming. New players have entered the market and started an organized business which in turn has affected new car sales. They use the internet to buy an automobile business in India and sites like Bizzday.com online website offers them very good deals.
- Public mode of transport: The increase in the number of metro connections, cab facilities like Ola and Uber have also contributed to a greater number of people avoiding buying new vehicles since it has become hectic to drive in the busy congested city traffic.
- The entry of Electric Vehicles: After the government announced tax cuts on electric vehicles many manufacturers and consumers are waiting and trying to shift their focus on electric vehicles. Since there hasn’t been good infrastructure development yet to manage electric vehicles people are using the wait and watch approach. This is also a good opportunity to buy an automobile business related to electric vehicles. If you would like to sell an automobile manufacturing business for premium this is the right time.
Not all the segments were hit badly due to this crisis. The SUV segment showing a steady sale over the last month is an indication that if planned well this crisis can be efficiently tackled. While some players were hit badly due to their improper planning, others are in a considerably good position.
This indicates that it’s the right time to invest in buying an automobile company and capitalizing on the current situation. Using the help of online brokers in India like Bizzday.com would be a great idea and not something you would regret later. So, make the best use of the opportunity and grow your business.
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