The exit of Ford from India could have a massive effect on the used car industry in many ways. The used car market in India is growing rapidly. Especially after the pandemic, the need for personal mobility has seen a tremendous rise. Even the people who were not looking to buy personal cars had to arrange for some sort of personal mobility solution. The used car industry provided an adequate solution to this problem. Many people opted to buy used cars because of the various benefits they offer. This ranges from the ease of learning in a used car because you don’t have to worry about scratching the car, affordability and ease of availability. People generally buy used cars from people they know and not a lot of paperwork is required either. Hence, the used car market in India grew exponentially in the last couple of years. But what impact will the Ford exit have on the used car market? Let us try to find out.
Also read: Ford India Fans Still Shaken With Carmaker’s Decision; Offer Weird Logics
Impact of Ford Exit on Used Car Market
Ford is known for making sturdy and tough cars that are built to last. Many Ford products owners vouch for the fact that the build quality of Ford cars is impeccable. Also, the engines are quite powerful and reliable along with great driveability. Hence, the popularity of Ford products in the used car market was huge already. Being present in the market for 25 years also ensured that one could find a dealership or service centre relatively easily. Hence, people were not worried about the aftersales and servicing of Ford cars. However, the exit news of Ford has shocked many. Experts of the used car industry reckon that the impact on used Ford cars could be severe.
Also read: Ford EcoSport to Even Exit USA Despite Higher Sales Than in India
While the American carmaker has announced that the service and spare parts availability will not see any problems for at least 10 years, we know that it may not be accurate. There will be problems that will start cropping up after some time. To tackle that, Ford might turn its dealerships into service centres but most dealership owners will try to surrender the franchise and perhaps opt for another company. The resale values of Ford cars will definitely take a huge hit. The smaller cars like the Figo, Aspire and EcoSport still might be able to find some buyers because of the discounts there will be on offer, but the Endeavour will likely be the most affected product in the fleet.
Also read: What Should Ford Buyers Who Paid in Full But Awaited Delivery Do Now?
