Used Equipment Market to Flourish

Equipment

In a recent market update by CRISIL Research, the construction equipment (CE) sales saw a steep decline of 70 per cent in the April-June quarter of the current financial year and there will be a slowdown for the fiscal. On the contrary, the used equipment market is seeing continued growth during this period as many customers are now buying more used equipment in good condition, rather than investing in brand new equipment, to save capital expenditure in the current tough market conditions. During the April-June quarter of this year, Shriram Automall India (SAMIL) witnessed double the sales in every month compared to the preceding month. Apart from the presence of the organised players like SAMIL, the entry of many OEMs themselves into the business is helping the used equipment market grow