Used Car News

In FY2021-22 around 70 per cent of used cars purchase transactions happened using personal financing, while 30 per cent buyers took a used car loan. Whereas in FY2020-21, only 13 per cent buyers opted for a loan.

In FY 2021-22 about 4.4 million used vehicles were sold in the country, and here are the Top 10 used car models that Indian car buyers preferred in FY2022.

The IBB report highlights the fact that while there are several business themes at work globally, at least three are linked with the majority of the organised used vehicle platforms in India.

The 2022 Indian Blue Book (IBB) Report on the used car industry in India is confident that the share of organised used car market will grow to 45 per cent by FY 2027 from current 20 per cent.

While the used car market in India witnessing a purple patch and is set for significant growth, there are a few issues that are plaguing the market in India. We take a look at the issues plaguing the used car market in India.

In FY2021-22, India's used car business, which has been valued at $23 billion, is expected to grow and expand at a CAGR of 19.5 per cent. The market will grow 12.7% in volume.

The 2022 Indian Blue Book Report says that sales of used cars in India will surpass 8 million units by FY2027. The total used car sales in India in FY2021-22 was 4.4 million units.

Hatchbacks are the most preferred option when it comes to used car purchase.