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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
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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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