Pre-owned car industry needs regulation to protect consumer interest: study

At present, there are no regulatory provisions for intermediaries though they trade the pre-owned car multiple times before it is eventually registered in the ultimate owner's name

There is a need to define ‘motor vehicle intermediaries’ (MVI) and regulate the fast-growing pre-owned car industry to ensure that consumers remain protected in the space and the sector realises its growth potential, said public policy research and advisory firm Chase India, and Consumer VOICE, a prominent consumer-centric voluntary organization, in a report released Thursday.

Titled “Unlocking True Potential of Pre-Owned Car Industry post COVID-19” the report aims to offer a roadmap for a robust policy ecosystem for the used car industry.

The booming pre-owned car industry has various types of players - online and offline - who act as intermediaries in