India used car market is expected to grow in forecast years during FY2022 – FY2027 following the trend from FY2017 to FY2020. Owning your car is a high priority for Indian population, no matter if the car is new or old. India used car market is expected to boom at the expense of disposable income from consumers. While owning a new car may or may not affect consumer finances, used car provides a viable option for owning a car while maintaining ease at their finances. Moreover, with introduction of digital aggregators in the market, the sales have increased owing to how convenient it is to own a car. Young aspiring buyer prefers a used car that has an average holding time of 3 to 6 years over a new car, reasoning the used has more space, more features over the new car at same price range. This change in consumer behavior can also be attributed to the fact that buying a used car is no more a social stigma.

India used car market is segmented by vehicle type, by sector, by sales channel, and by fuel type. Based on vehicle type the market is further segmented in hatchbacks, sedans, and SUV/MPV. Buyers are not only looking for cheaper cars, but recent trends show a growth in used SUV/MPV purchases too. Consumer has been opting for second-hand SUV owing to high rate of depreciation value of these cars, fast growing base of young population, increasing disposable income of the consumers (along with rapid urbanization), and growing internet penetration in non-metro cities.

India used car market is also bifurcated based on sector. While the major categories can be organized and unorganized, the used cars are also sold via semi-organized, and customer to customer means. Though the sales through customer to customer means has not shown promising growth, comparatively.

COVID-19 shook country economy to its core. India’s automobile industry was at it best in last 3 years, but pandemic affected it with a setback for approximately 4-6 years. While the new car market incurred growth about 77%, India used car market addressed its growth at 99%.  Growing urge of self-mobility, concerns toward traveling in solidarity, maintaining governmental instruction of social distancing drived consumers toward purchase of used cars. Similar growth pattern is expected in forecast years too in India used car market.

Major players operating in India Used car Market include CARS24 India Pvt Ltd., Maruti True Value (Maruti Suzuki India Limited), Mahindra First Choice Wheels Limited, Hyundai H Promise (Hyundai Motor India Ltd), Honda Auto Terrace (Honda Cars India Limited), Ford Assured (Ford India Pvt Ltd.), Toyota U Trust (Toyota Kirloskar Motors Pvt Ltd.), Big Boy Toyz Private Limited, (Girnar Software Private Limited), (MXC Solutions India Pvt Ltd.), among others. The companies are focussing on competitive strategies that include formation of alliances and partnerships.

Years considered for this report:

Historical Years: FY2017 – FY2020

Base Year: FY2021

Estimated Year: FY2022

Forecast Period: FY2023 – FY2027

Objective of the Study:

  • To analyze and forecast the market size of India used car market from FY2017 to FY2020.
  • To estimate and forecast the market size of India used car market from FY2021 to FY2027 and growth rate until FY2027. 
  • To classify and forecast India used car market by vehicle type, by sector, by sales channel, by fuel type.
  • To identify dominant region or segment in the India used car market.
  • To identify drivers and challenges for India used car market.
  • To examine competitive developments such as expansions, launches, mergers & acquisitions, etc., in India used car market.
  • To identify and analyze the profile of leading players operating in India used car market.
  • To identify key sustainable strategies adopted by market players in India used car market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of distributors, suppliers, and dealers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the distributors which could not be identified due to the limitations of secondary research.

TechSci Research analyzed the distribution channels and presence of all major players across the country.

TechSci Research calculated the market size of India used car market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Distributers and suppliers of used cars and their services and other stakeholders
  • Dealers and digital aggregators in used car sector
  • Organizations, forums, and alliances related to used car system   
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as distributors, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India used car market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • India Used Car Market, By Vehicle Type:
    • Hatchback
    •  Sedan
    • SUV/MPV
  • India Used Car Market, By Sector:

o   Organized

o   Semi-Organized/Unorganized

  • India Used Car Market, By Sales Channel:
    • Dealerships/Broker
    •  C2C
  • India Used Car Market, By Fuel Type:
    • Petrol
    • Diesel
    • CNG

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India used car market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
India Used Car Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

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1.     Introduction

2.    Research Methodology

3.    Executive Summary

4.    Voice of Customer

4.1.  Factors Influencing Purchase Decisions

4.2.  Challenges & Unmet Needs

4.3.  Product Pricing

4.4.  Brand Recall

5.    Impact of COVID -19 on Used Car Market in India

6.    India Used Car Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value (USD Million) & Volume

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type (Hatchback, Sedan, SUV/MPV)

6.2.2.    By Sector (Organized Vs. Semi-Organized/Unorganized)

6.2.3.     By Sales Channel (Dealerships/Broker Vs. C2C)

6.2.4.     By Fuel Type (Petrol, Diesel & CNG)

6.2.5.    By Company (FY2021) 

6.3.  Product Market Map

7.    India Hatchback Used Car Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Sales Channel

7.2.2.    By Sector

7.2.3.    By Fuel Type

7.3.  Pricing Analysis

8.    India Sedan Used Car Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Sales Channel

8.2.2.     By Sector

8.2.3.     By Fuel Type

8.3.  Pricing Analysis

9.    India SUV/MPV Used Car Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Sales Channel

9.2.2.     By Sector

9.2.3.     By Fuel Type

9.3.  Pricing Analysis

10.  Market Dynamics

10.1.  Drivers/Opportunities

10.2.  Challenges/Restraints

11.  Market Trends & Developments

12.  Policy & Regulatory Landscape

13.  India Economic Profile

14.  Competitive Landscape

14.1.    Company Profiles

14.1.1.  CARS24 India Pvt Ltd.

14.1.2.  Maruti True Value (Maruti Suzuki India Limited)

14.1.3.  Mahindra First Choice Wheels Limited

14.1.4.  Hyundai H Promise (Hyundai Motor India Ltd)

14.1.5.  Honda Auto Terrace (Honda Cars India Limited)

14.1.6.  Ford Assured (Ford India Pvt Ltd.)

14.1.7.  Toyota U Trust (Toyota Kirloskar Motors Pvt Ltd.)

14.1.8.  Big Boy Toyz Private Limited

14.1.9. (Girnar Software Private Limited).

14.1.10.       (MXC Solutions India Pvt Ltd.)

15.  Strategic Recommendations

16. About Us & Disclaimer

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]