India's Cars24 Sees Chip Crisis Driving Used Car Demand, CEO Says

The video discusses the potential for growth in India's car market, highlighting the low car ownership rate compared to Western countries. It addresses the impact of the global chip shortage on car production and demand, particularly for used cars. The discussion also covers how COVID-19 has influenced car ownership trends, emphasizing affordability issues in India. The role of government policies, such as scrappage initiatives, in shaping the car market is also explored.

What is the primary reason for the low car ownership rate in India compared to Western countries?

• Affordability issues

• High import taxes

• Lack of interest in cars

• Strict government regulations

How has the global chip shortage affected the car market in India?

• Increased production of new cars

• No impact on car prices

• Rise in demand for used cars

• Decreased demand for used cars

What impact did COVID-19 have on car demand in India?

• Decreased demand due to lockdowns

• Increased demand for electric vehicles

• Increased demand due to reduced public transport use

• No change in car demand

What is one benefit of the government's scrappage policy for the car market?

• Enhanced turnover in the pre-owned car market

• Increased demand for new cars only

• Reduced car prices significantly

• Decreased awareness of car lifespan

Why are pre-owned cars considered a good option for increasing car ownership in India?

• They are less available in the market

• They have a longer lifespan

• They are more affordable than new cars

• They are more expensive than new cars