The introduction of the goods and services tax (GST), which has brought cheer for car-makers and buyers because prices of almost all products have come down, could derail the growth of the organised used-car market. The used car market had clocked healthy growth in recent years and, at 3.87 million vehicles a year, it was even bigger than the new car market of 3 million units.
However, organised players like Maruti Suzuki True Value and Mahindra First Choice form only one-tenth of the used car industry. Under the GST, the prices of used cars have moved up. This is due to a 20-33 ...
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