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Pre-owned segment likely to narrow value gap with new cars by FY27: Study

Shift to UVs from sedans, vans, and small cars to drive the trend

Olx betting on B2C segment to boost market share in used-car market

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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

Shally Seth Mohile Mumbai

3 min read Last Updated : Nov 24 2022 | 1:05 AM IST

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

Topics : domestic pre-owned car market utility vehicles automobile industry Indian car market Automobile dealers Used car market OLX Cars vehicles

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