Festive cheer drives used car sales this October post GST implementation

Latent demand created as customers had postponed buying decision post deMo and GST implementation

The festive season brought cheer to the new and used vehicles industry, especially in the organised segment. Players point out that so far, while the year-on-year (YoY) growth in October so far is in the range of 15-20 per cent, the growth over September 2017 in the used vehicles space has been a staggering 40 per cent.

The new vehicle segment (consisting of all segments such as passenger vehicles, two-wheelers, commercial vehicles) has seen 9.4 per cent growth during the first half of the financial year. In September alone, the passenger vehicles saw a YoY growth of 11.32 per cent.