Renault Kwid enters used car market with endearing success; the brand new car still asks for a waiting period of two months in the country
Renault’s ace product in the Indian market, the Kwid hatchback, has entered the used car market as evident from the online selling adverts in the popular platforms. Any new car that comes on, if the demands get soured, will naturally get hand-exchanged as some owners will try to leverage its craze and sell the model with negligible amount of depreciation. The same can be applicable for the SUV-esque Kwid.
A report from business-standard points out a few examples. Venkatesh from Hyderabad posted a premium advertisement on Olx as he wanted to sell his Renault Kwid bought brand new ten months ago. The ad charged him just Rs.1,000 and within five days he had 20,000 hits for his post and the eventual buyer paid him Rs. 3.7 lakh for the car he originally bought for Rs. 4.35 lakh –including registration and insurance.
For a ten-month-old car, he had to give in just 15 percent of what he paid for which wasn’t bad at all as he sorted out between number of enquiries received for the Kwid and signed off the best deal. Another instance was when Shakthi Tyagi belonging to New Delhi had to make do with parking issues as Kwid was the second car he bought in February 2016 and had no choice but to sell it.
At 16 percent lesser than his purchase cost, he sold the Kwid for Rs. 3.2 lakh. Several other transactions resulted in discount between 15 and 20 percent which sticks in line with the owners’ sales of their new cars within a limited of months. The success of a car can be determined with its resale value and Renault Kwid has had significant success in that part.
A bog standard Renault Kwid still asks for a waiting period of two months in some parts of the country and therefore the less patient potential buyers online car selling platforms like Olx, CarTrade, Quikr and CarDekho have numerous ads of the French potent hatchback posted.
Kwid took the entry-level small car space by storm since launching in September 2015 and has crossed over 125,000 bookings. Based on the global CMF-A platform developed by Renault-Nissan alliance, the Kwid is powered by a 799 cc petrol engine which is claimed to return a segment-leading fuel efficiency of 25.17 kmpl.
Source: Business Standard