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Fuelled by a burgeoning middle class with rising disposable income, a growing desire for personal mobility and shorter vehicle replacement cycles, the used car market is steadily growing. Moreover, In India, buying a pre-owned vehicle is no longer considered a ‘compromise’.
Used cars business pegged at 71 lakh by FY25: Mahindra FirstChoice ANI | Updated: Apr 21, 2021 17:32 IST It said the size of used-car industry is expected to be 90 per cent larger than the size of new-car industry in terms of volumes in the next three years. The used-car volume estimated for FY21 is 39 lakh units which is 7 per cent lower than 2020 on account of COVID-19-related lockdown. The de-growth, however, is far lower than the new-car industry which is estimated to de-grow between 35 to 40 per cent in the same time period. "The pandemic has catapul...