The aspiration to buy a car has been prominent in India. More than comfort, it’s seen as a sign of luxury and as a status symbol here. But before we get there, most of us really want to gain the confidence to ride on the roads and get a hang of the entire art of driving a four-wheeler.
That’s why for most of us, our first cars are pre-owned. We feel it’s less risky that way and there are still some things to be considered before buying a pre-owned car. But how much do we know about the used-cars market in India?
Let’s find out.
For you to buy a pre-owned car, there should be someone willing to let go of their old ones. But what factors push them to sell their cars?
India’s pre-owned cars market stood at around 4mn units in the year 2019. This is anticipated to reach up to 7.2mn units by 2022.
There is no proper governing authority as far as pre-owned cars market is concerned. We have a very mixed market, where different segments overlap each other. Look at this:
An average Indian car buyer gets information about pre-owned cars from multiple sources including friends, relatives, mechanics and garages, magazines, dealers, mass media, internet and classifieds, finance companies and more.
However, the biggest influencers are
Check out the infographics below to look at the breakdown of each and to find out what pushes an average consumer to make the purchase. This is a very interesting infographic we had fun coming up with.
Share this with people in your circle as well.
Very useful information about used cars in India.