The India Second Hand Car Market size is valued at around USD 35.1 billion in 2024 and is anticipated to reach around USD 68.32 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 14.87% during the forecast period, i.e., 2025-30. According to MarkNtel Advisors Study.
India Second Hand Car Market Driver:
Growing Demand for Used Luxury Cars – As social media impacted the minds of people, it created a trend of early success which can be shown as richness. This gave a boost to the second-hand luxury car industry in India. Betting on the potential of the Indian market, leading used car dealers like Big Boy Toyz Pvt Ltd (BBT) have increased their operations to provide used luxury vehicles to consumers. They offer the majority of luxury and premium OEMs such as Mercedes-Benz, Lexus, Cadillac, Lamborghini, Ferrari, Jaguar Land Rover, etc.
With the growing trend of early richness, the young generation goes for them. In addition, the average holding period for these luxury cars is way less than the economy models because of the frequently changing of cars and high maintenance which ultimately boost their supply. They usually enter the market from organized channels such as dealers, online marketplaces, and OEM dealerships. Additionally, they ultimately become an attractive purchase for the buyers with all the attractive features offered at a high depreciation of around 20%-30%. Therefore, the increasing supply at competitive prices together with the entry of organized players in the market is expected to drive the market growth.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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India Second Hand Car Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Vehicle Type
- Hatchbacks -Market Size & Forecast 2020-2030F, Units Sold (Thousand)
- Sedans-Market Size & Forecast 2020-2030F, Units Sold (Thousand)
- SUVs-Market Size & Forecast 2020-2030F, Units Sold (Thousand)
- By Propulsion Type
- ICE-Market Size & Forecast 2020-2030F, Units Sold (Thousand)
- Petrol-Market Size & Forecast 2020-2030F, Units Sold (Thousand)
- Diesel-Market Size & Forecast 2020-2030F, Units Sold (Thousand)
- Others (CNG, LPG, etc.) -Market Size & Forecast 2020-2030F, Units Sold (Thousand)
- Electric-Market Size & Forecast 2020-2030F, Units Sold (Thousand)
- ICE-Market Size & Forecast 2020-2030F, Units Sold (Thousand)
- By Sales channel
- Online-Market Size & Forecast 2020-2030F, Units Sold (Thousand)
- Offline-Market Size & Forecast 2020-2030F, Units Sold (Thousand)
- By Region
- North
- East
- West
- South
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Cars24 Services Private Limited, Maruti Suzuki True Value (Maruti Suzuki India Limited), Mahindra First Choice Wheels Limited, Hyundai Motor India, Honda Cars India Limited, Ford Assured (Ford Motor Company), Toyota U Trust, Big Boy Toyz, BMW AG, Audi Approved Plus, CarTrade Tech Limited, Droom Technology Pvt Ltd. and others are looking forward to strengthening their market positions.
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