Used Car Market

China's used car exports surge, driven by demand from Central Asia

The Khorgos Gateway, connecting northwest China to Kazakhstan, has become a major export hub for China's pre-owned cars

Used car market overtakes new car sales in India: CARS24's report

Maharashtra, Uttar Pradesh, and Delhi emerged as key drivers of the used-car boom, reflecting diverse regional demands

Do you need to pay 18% GST on 'loss margin' of EV resale? Explained

GST on resale of used vehicles by businesses has been raised to 18% from 12%, bringing the used EV market at par with other petrol and diesel vehicles

Tata Motors taps used car market to boost electric vehicle resale, exchange

The company has the largest car park in EVs in India, estimated to be around 170,000 units. As a pilot, the company has already started work with used online car marketplace Spinny

Technology, easy financing for used cars will give advantage: Cars24

Company holds around 4 per cent of the total used cars market share: co-founder

Demand for new vehicles up, as used car market see drop in prices: Report

Interestingly, this comes at a time when two-wheeler sales were seen increasing in new vehicles and the used vehicle category

Surge in demand for 'young' used cars outpaces supply, drives prices north

SUVs set to reach 45% of used car market soon

US to introduce mandatory emergency braking systems in new cars by 2029

The rule requires that systems detect pedestrians in both daylight and at night. Some small-volume manufacturers will be allowed to comply by September 2030

India's used car market size to touch $100 bn mark by 2034: CARS4's Chopra

Indian used car market is expected to touch the USD 100 billion-mark in the next ten years on the back of rising disposable incomes and a growing middle class, according to CARS24 Co-Founder and CEO Vikram Chopra. As per the findings of the Gurugram-based online used car marketplace, there are changes in market dynamics with customers opting for frequent upgrades when it comes to cars. "According to our internal study, the anticipated growth of the Indian used car market is set to occur at a 15 per cent CAGR, increasing from USD 25 billion in 2023 to USD 100 billion by 2034," Chopra told PTI in an interaction. The growth trajectory is propelled by various factors unique to the Indian market, including urbanisation and a growing middle class, which is changing consumer preferences and boosting the demand for affordable mobility solutions, he added. Chopra noted that when CARS24 began its journey eight years ago, the used car market size stood at around USD 10-15 billion. "I think,

Planning to buy a car? Minimise tenure, maximise down payment on loan

Selling the old car independently, rather than going for an exchange offer, may fetch better value

TN used car market records 80% jump in sales till June 2023: CARS24

Pre-owned vehicle sale, purchase, and financing platform provider CARS24 on Tuesday said it has witnessed a noteworthy transformation in the used car market in Tamil Nadu, with practicality taking precedence over luxury. The southern state was also witnessing a significant rise in demand for used cars with an 80 per cent surge in sales recorded during the first 6 months of the year. While popular models from automaker Maruti Suzuki India Ltd remain long-standing favorites, customers in Tamil Nadu were exploring better options including hatchbacks Renault Kwid, Volkswagen Polo, and mid-size sedan Honda City. "These models have captivated the attention of local car buyers, signifying an evolution in their preferences and a departure from conventional choices," CARS24 said in a statement here. Maruti Suzuki continues its strong presence in Tamil Nadu with its popular hatchback Alto800 standing out as the preferred model during the first six-month period of 2023. Tamil Nadu's car mark

Online used-car marketplace Shift Technologies lays off 30% of workforce

US-based online marketplace for buying and selling used cars Shift Technologies has reduced its workforce by 30 per cent

Govt finalises rules for used car market, aims to resolve host of issues

Move to curb rise of fraudulent intermediaries, address disputes over third party damage liabilities

SoftBank-backed Cars24 eyes small towns to sell used cars in India

The company more than doubled its India revenue in 2022 to Rs 6,008 crore from Rs 2,776 crore in 2021

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

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, .

Pre-owned car market in India expected to grow at 19.5% till FY27: Report

Pre-owned car market in India, pegged at USD 23 billion in FY22, is expected to grow at a Compounded Annual Growth Rate (CAGR) of 19.5 per cent till FY27, a report said on Monday. It also said that the demand in smaller towns is expected to grow at a 30 per cent CAGR by 2026 as compared to a 10 per cent CAGR in the top 40 cities. The surge in growth is likely to be driven by a host of factors, including availability of certified cars; decrease in the average tenure of ownership for cars and two-wheelers due to larger disposable incomes; launch of new models within shorter time frames and buyback assurances, among others, it said. The growth is also expected to be driven by the emergence of organised online and phygital used car platforms amid a surge in the demand for personal mobility, according to the 5th edition of the FY22 car & bike pre-owned car industry report, produced by a collaboration of the Indian Bluebook and Das WeltAuto. Das WeltAuto is the pre-owned car business of

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

Cars24 launches its second-largest mega refurbishment lab in Bengaluru

The massive facility located in Kambalipura Village, Karnataka is spread over 105,000 sq ft and will refurbish over 80 cars daily

Higher interest rates, limited tenures drive used-car loan EMIs up

Consider top-up home loan and personal loan; they are cheaper and you could get 100% financing