 "used car, second-hand cars, auto demand, automobile, cars, vehicles")
Even as the semiconductor shortage has limited the demand for new cars, the pre-owned car segment is seeing a surge. A preference for personal mobility, availability of multiple organised online platforms, including e-commerce channels, aggregators, and classifieds, have been fuelling growth.
The growth rate of the pre-owned car market is expected to be 1.5x that of the new car market over the next five years. It was 1.4x in 2020-21 (FY21), according to a recent OLX-CRISIL Auto study. It envisages the share of the organised players to increase from 20-22 per cent in 2021-22 to 30 per cent by 2025-26.
