Page 2 - Used Cars

Why is the second-hand car market running in top gear

Second-hand car industry is becoming increasingly organised. The market for second-hand cars is expected to double in the next five years. Is the used car than the new 'new' for Indian auto-buyers?

Volvo plans to expand certified used-car business pan-India by early 2024

Swedish car maker Volvo plans to expand its certified used-car business pan-India by early 2024 and expects as much as one-third of its volumes to come from this segment, a top company official has said. Volvo operates its pre-owned car business under the Selekt' platform globally and it recently launched the platform in India with two dealerships. According to a study published early this month, the pre-owned car market is expected to grow at a compounded annual growth rate of 19.5 per cent till financial year 2027 and reach up to 8-million units. A recent CRISIL-OLX Auto report suggested that within the used-car market, the premium segment has seen a sharp uptick in demand as well as in supply in the first half of this calendar year. We have just started a pilot for our pre-owned certified car platform Volvo Selekt with two dealers in India. We want to expand it in phases and we are looking to ensure that the platform is across our network by 2023 or early 2024, Jyoti Malhotra, .

Chip crunch driving used-vehicle sales, Shriram Automall revenues up 52%

Firm says pre-Covid level of sales achieved and that pre-owned vehicles are no longer a second choice

Road transport ministry issues draft rules to curb fraud in used car market

Dealers of registered vehicles must get authorisation certification; intermediaries will have to provide details of each registered vehicle

Love that snazzy SUV? Buy a pre-owned one if a new vehicle is out of reach

Just make sure it's in good shape, the papers are in order and the price you're paying doesn't pinch in the long run

Affordability, access to seamless finance aiding sale of used cars: CARS24

First edition of the 'Future of Mobility 2022' report expects the segment to grow further all across the country.

Used car start-ups with tech and investor money are upping the pace

Start-ups armed with tech and investor money are upping the pace and legacy players are upping the ante

'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.

Online used cars seller Spinny finishes ESOP buyback worth $12 mn

The unicorn raised $283 million in a Series E funding round from new and existing investors earlier this month.

Spinny enters unicorn club with $283 mn fundraise at $1.8 bn valuation

The latest round includes a primary capital infusion of $250 million and a secondary sale of $33 million by angels and a few seed stage investors

Young buyers leading charge in buying pre-used cars sales: Report

The study highlights the most-compelling consumer trends and statistics with respect to the Indian used car industry

CarDekho opens its first car refurbishment centre at Gurugram

The company said it plans to set up 20 such facilities in the country in near future

Policy vacuum speed breaker may slow down India's booming used car market

The pre-owned car market has got a boost with the entry of startups like Cars24, Olx Autos, Droom and CarTrade. But there's still a policy vacuum here. Let's understand how it can hit the market

TMS, Ep 13: India Inc Q2 earnings, used cars, smart investors in Modi govt

Will India Inc's earnings momentum continue in Q2? Can a policy-vacuum slow down India's booming used-car market? Who are the smartest stock market investors in the Modi govt? Find out in this episode

CARS24 valuation soars to $1.8 billion after raising $450 million

Fundraise includes Series F equity round of $340 mn, debt of $110 mn

TVS Automobile Solutions may partner used-car companies; plans expansion

TVS Automobile Solutions had launched its new subsidiary Ki Mobility Solution (an online to offline digital platform) in November 2020

Used vehicle unicorn Cars24 nears $250 mn deal that could double valuation

Cars24 aims to make the purchase of a pre-owned vehicle as easy as buying a refrigerator or a smartphone online.

Startup PumPumPum gets Rs 5.5 cr to expand used car leasing business

Company says it plans to expand to 15 cities in five years, lure millennials for clients.

Online used car retailing platform Spinny raises $65 mn in funding round

Spinny, an online platform for selling pre-owned cars, has raised $65 million in a funding round, led by Silicon Valley-based venture capital firm General Catalyst

Used car market sees a continued interest from buyers amid Covid-19

2020 saw incremental growth for 1st-time car buyers, category up 3% for Maruti