Used Car Market

The High Court raised concerns over weak regulation of used vehicle sales, noting that a car involved in the Red Fort blast passed through multiple dealers while its registration remained unchanged

India's pre-owned car market is expanding fast as buyers prioritise SUVs, safer models, trusted brands, and certified dealers - signalling a shift from affordability to aspiration in FY25

Three Unicorn startups - CARS24 Services Pvt., CarDekho and Spinny - that buy and sell pre-owned vehicles are in early talks with bankers to assess investor appetite

China plans to ban resale of cars within six months of registration to curb the growing sale of zero-mileage used cars, which distort sales data, affect buyers, and allow misuse of subsidies

The used-to-new car sales ratio has increased to 1.4 from less than 1 five years ago. The market value of these used cars is estimated to be around Rs 4 trillion, nearly matching that of new car sales

Most first-time car buyers last year preferred new over used cars, citing mistrust in the used market. Many feel used car prices are inflated, sometimes matching or exceeding new car costs

Hatchbacks remain the most popular choice among women in the pre-owned market, with 60 per cent of buyers opting for automatic variants for ease of driving, indicates a Spinny report

The Khorgos Gateway, connecting northwest China to Kazakhstan, has become a major export hub for China's pre-owned cars

Maharashtra, Uttar Pradesh, and Delhi emerged as key drivers of the used-car boom, reflecting diverse regional demands

GST on resale of used vehicles by businesses has been raised to 18% from 12%, bringing the used EV market at par with other petrol and diesel vehicles

The company has the largest car park in EVs in India, estimated to be around 170,000 units. As a pilot, the company has already started work with used online car marketplace Spinny

Company holds around 4 per cent of the total used cars market share: co-founder

Interestingly, this comes at a time when two-wheeler sales were seen increasing in new vehicles and the used vehicle category

SUVs set to reach 45% of used car market soon

The rule requires that systems detect pedestrians in both daylight and at night. Some small-volume manufacturers will be allowed to comply by September 2030

Indian used car market is expected to touch the USD 100 billion-mark in the next ten years on the back of rising disposable incomes and a growing middle class, according to CARS24 Co-Founder and CEO Vikram Chopra. As per the findings of the Gurugram-based online used car marketplace, there are changes in market dynamics with customers opting for frequent upgrades when it comes to cars. "According to our internal study, the anticipated growth of the Indian used car market is set to occur at a 15 per cent CAGR, increasing from USD 25 billion in 2023 to USD 100 billion by 2034," Chopra told PTI in an interaction. The growth trajectory is propelled by various factors unique to the Indian market, including urbanisation and a growing middle class, which is changing consumer preferences and boosting the demand for affordable mobility solutions, he added. Chopra noted that when CARS24 began its journey eight years ago, the used car market size stood at around USD 10-15 billion. "I think,

Selling the old car independently, rather than going for an exchange offer, may fetch better value

Pre-owned vehicle sale, purchase, and financing platform provider CARS24 on Tuesday said it has witnessed a noteworthy transformation in the used car market in Tamil Nadu, with practicality taking precedence over luxury. The southern state was also witnessing a significant rise in demand for used cars with an 80 per cent surge in sales recorded during the first 6 months of the year. While popular models from automaker Maruti Suzuki India Ltd remain long-standing favorites, customers in Tamil Nadu were exploring better options including hatchbacks Renault Kwid, Volkswagen Polo, and mid-size sedan Honda City. "These models have captivated the attention of local car buyers, signifying an evolution in their preferences and a departure from conventional choices," CARS24 said in a statement here. Maruti Suzuki continues its strong presence in Tamil Nadu with its popular hatchback Alto800 standing out as the preferred model during the first six-month period of 2023. Tamil Nadu's car mark

US-based online marketplace for buying and selling used cars Shift Technologies has reduced its workforce by 30 per cent

Move to curb rise of fraudulent intermediaries, address disputes over third party damage liabilities