The share of UVs has gone up sharply in the used-car segment over the past five years – from 17 per cent in 2016-17 to 22 per cent in FY22
India’s pre-owned car market is expected to narrow the gap in value terms with new cars over the next five years. This is on account of a changing mix increasingly skewed towards utility vehicles (UVs) that command better value, reveals a latest study by OLX Autos and CRISIL Research.
The value of the pre-owned car market is likely to touch Rs 4.3-4.5 trillion by 2026-27 (FY27), while that of new cars is expected to be worth Rs 6.6-6.8 trillion in the same period.
The gap was more pronounced at the end of 2021-22 (FY22). It was Rs 1.8 trillion for
First Published: Nov 23 2022 | 10:26 PM IST