Pre-Owned ICE car market: A boon to Middle income groups in times of transition to EVs & Sustainability

Pre-Owned ICE car market: A boon to Middle income groups in times of transition to EVs & Sustainability

Aravind G

Student of Department of Management Studies, IIIT Allahabad, Uttar Pradesh.

Abstract:

The current study aims to evaluate if middle-income households could make use of the used car resale market as a viable option during the switch to EVs and sustainability. Convenience sampling is used to gather data from 112 respondents, and techniques like SPSS and regression analysis are then used to better understand the results. The findings indicate a positive relationship between used cars and the transitional period. The availability of replacement parts, after-sales support, model, shape, engine capacity, and other criteria are positively correlated with the transition phase, with cost and regulatory restrictions having a significant impact. There are several challenges and unknowns in the used ICE vehicle market, including as inconsistent pricing, a lack of trustworthy models, and concerns about the environmental impact of operating older ICE cars. To keep older cars working efficiently and safely for a longer period of time, a network of specialists and service providers that specialize in maintaining and repairing them is used.