00:00Hi, my name is Vedant Pagare. I am a senior general manager in Cars24. I am from Ahmedabad, Chennai, Mumbai,
00:07West, all in retail.
00:10Vedant, tell me that in the past 1.5 years, in the old car, how much difference is in sales
00:17and purchase?
00:21Sir, the pre-used car market is growing rapidly, year on year.
00:26If I talk about last year, then last year, as a Cars24, we have grown more than 2.5x in
00:34terms of retail business.
00:36Now, if I ask you about fuel type, maybe petrol, diesel, CNG, then I would like to give you data.
00:44I would like to ask you that in India, 80% of cars are in petrol.
00:49This is compared to 80% of petrol, 15% of diesel, and the other 5% of CNG.
00:58But in Gujarat, this is a little bit different.
01:00In Gujarat, 75% of petrol, there are 12-12% diesel and 12-12% of CNG.
01:08So, this is like fuel, E-20 petrol, so how much difference is?
01:15So, sir, E-20 petrol, what I want to tell you, in fact, I want to tell you,
01:19that E-20 is not a new thing.
01:21The government has put it in 2021.
01:24What is E-20 ethanol petrol?
01:27What should I tell you?
01:27Is there any car-commodation?
01:29No.
01:29It doesn't any car-commodation.
01:30What should I ask you?
01:32Is there any cost-commodation to see all customers,
01:36which they tell us on a daily basis?
01:39So, if there is fuel tank,
01:42the first thing is that you don't drive 1-4 fuel tank.
01:44If you don't drive 1-4 fuel tank,
01:46because ethanol, you attract moisture.
01:49Right?
01:49And whatever tank you have empty,
01:51the most moisture, the most air.
01:53So, if you don't drive it to full and petrol it,
02:09It is not a 50,000 Rs, it is hardly 2,000 Rs, but you will ensure that your engine
02:18is perfect.
02:24We are also implementing necessary processes, where we will know that there will be any impact.
02:31Usually, the customers don't have any queries, we will easily solve it.
02:38Which segment of cars is different from E20?
03:10Sir, there is no segmentation, frankly speaking.
03:11It is not an issue.
03:12It is only a precaution.
03:15Overall, we will benefit from all of this.
03:18Customers, you will have to ask questions,
03:20if we are purchasing the old car,
03:23then E20, or some other way,
03:26we will have an average of less.
03:28What is the answer?
03:29Yes, sir.
03:30So, this is something that you can say about E20,
03:33because of the E20,
03:34it may be 2-3% of the average.
03:372-3%,
03:39but if you have to check properly,
03:41then you will not have to change the engine.
03:43But the cars are so much efficiently run.
03:48Secondly, pre-use cars,
03:49now,
03:51it is a new car,
03:53for example,
03:5410 million cars,
03:56as you come from the showroom,
03:58its value is 15-18% depreciate.
04:02In this case,
04:03if you have the pre-use cars,
04:04as you become the second owner,
04:07then you have the depreciation as compared to new cars,
04:0930% lower.
04:11So, this is the pre-use cars market,
04:13more important,
04:15that you should get the car
04:15in perfect condition,
04:19because this is as good as a new car for a family.
04:23So I always say that new car and old car may be 2-3% of your average.
04:30But already you are buying so much depreciated value,
04:34I think it is a win-win situation for the customers.
