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'Bright future' for Indian used cars market in pandemic: RedSeer report

8.3 million units in sales expected by FY26 as people prefer to use their own vehicles for travel.

automobile, scrappage, cars, auto, vehicles

Peerzada Abrar Bengaluru
India’s used car market will grow at a compound annual growth rate (CAGR) of 11 per cent to log sales of up to 8.3 million units by FY26, according to consulting firm RedSeer, marking a trend of people preferring personal vehicles for travel in the coronavirus.

“This has paved the way for a bright future in the used car market,” said a report by the company.

Data monetization, in-vehicle connectivity, subscriptions, rental, charging, and long-term maintenance packages are expected to comprise a large share of profits in the used cars business. A reduced period of car ownership among the millennial

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First Published: Dec 27 2021 | 4:21 PM IST

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