From Jamaica in the west to Guyana in the south, people are abandoning showroom cars for reliable and affordable used Japanese vehicles. The used car business is hot in the region, encouraging dealers to pay more attention. The increase in the sales of used cars is directly proportional to the decrease of the new car sales. The average of sales of used vehicle is always more than that of new ones and the gap is widening.
On looking at the statistics produced by the Center for Sustainable Transport in Mexico, the units of used vehicles sold worldwide from 1997 to 2007 grew from 1,243,140 to 4,778,657. An increase of 284 per cent clearly shows an inclination of buyers towards used vehicles. There is a massive hunger for reliable, affordable and efficient vehicles not only in developing countries, but across all parts of the world. For low or middle income people, these low-priced vehicles are the only option as with the prices of new vehicles and gas touching sky, it seems that for them there is no other alternative available.
One of the emerging markets for Japanese used vehicles is Caribbean region. Situated on the Caribbean Plate, this region holds very vast opportunities for the exporters. There are large numbers of vehicle exporting companies in Japan, that export around thousands of used vehicles altogether to the region. Nearly every shipment of used vehicles imported into the region sells out. To remain in the market, some new car companies even offer second-hand units.
The largest chunk of the used car market is controlled by Japanese vehicles. Japanese exporters provide the best cars within the customer’s budget. Used vehicles from Japan gave opportunity to lower and middle income consumers to own a vehicle. When it comes to automobiles, Japanese assembled vehicles are the most trusted names all over the world. Almost every country of the Caribbean region import vehicles from Japan. For instance, in Barbados, the maximum percent of the market is accounted by used car imports, and the share is growing enormously.
There are not many manufacturing industries in the Caribbean region. Many countries have to invest heavily in manufacturing of automobile industries. Some countries even don’t have manufacturing plants. As a result, there is less production of cars and ultimately increment in importation of vehicles.
Purchase of a used car is no longer socially frowned upon, credit to change in the lifestyle. People from all classes are buying used vehicles as they give good value for money. Continuous vehicle upgrading, reasonability, pricing and availability have contributed a lot towards growth of business in the used car market.
One cannot neglect the chief role played by digital marketing in the growth of the used car market, which in turn benefitted the organized segment in the industry. The internet is another important factor that helped in the increase of used car market, allowing buyers to purchase a vehicle at negotiable prices. There is no doubt that the globalized world has contributed in the growth of the used car market segment.
Nowadays, automobiles are better than they’ve ever been. More fuel efficient and better on the environment, both with emissions and manufacturing processes. They have become the parts and parcel of our lives. More than luxury they are considered as a necessity for everyday transportation. However, for some buying a new one is not possible, so they go with used cars. Likewise, financial limitation of people in the Caribbean region has resulted in increasing demand for used vehicles in the region. Japanese vehicles are admired for their less engine trouble and superb quality. These vehicles rule the Caribbean market as they are reliable, comfortable, durable and affordable.
Summary:-
One of the emerging markets for Japanese used vehicles is Caribbean region. Nearly every shipment of used vehicles imported into the region sells out. Situated on the Caribbean Plate, the region holds very vast opportunities for the exporters. The used car business is hot in the region, encouraging dealers to pay more attention. Japanese vehicles rule the Caribbean market as they are reliable, comfortable, durable and affordable.
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