What is the used car market in India?
The Indian automotive industry has been consistently growing up. But within this growth story, a fascinating trend is emerging – the rising price of the second-hand car market and a growing number of Indian car buyers are opting for pre-owned vehicles.
What is the scope of used car business in India?
The pre-owned automobile market in India is booming. Market size is estimated at USD 31.62 billion in 2024, and is expected to reach USD 63.87 billion by 2029, growing at a CAGR of 15.10% during the forecast period (2024-2029).
What is the ratio of used cars to new cars in India?
Pre-owned vs new car sales in India have crossed a ratio of 2:1, while it was 1:1 just a few years ago.
Who pays most for used cars?
Private Sale. You can likely get the most money for your car by selling it privately. This is because you’re selling to the next owner directly instead of through a middleman.
What is the car market for next 10 years?
Used car market in India is expected to grow to nearly ₹8.2 lakh crore in the next 10 years from ₹2 lakh crore currently. India’s thriving used car market is set to grow exponentially in the next 10 years.