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Last Updated: Apr 25, 2025 | Study Period: 2024-2030
Throughout India, some used automobile sector is still in their infancy. The market is dominated by the unorganized sector, with few consumer protection options.
Semi-organized, disorganised, and customer-2-customer sales channels are all types of unorganised sales channels.
Moderately dealerships work out of a physical location like a workshop or a technician's shop. Unorganised sector sales, but at the other hand, are conducted through intermediaries or royalties.
| S No | Overview of Development | Development Detailing | Region of Development | Possible Future Outcomes |
| 1 | Mahindra First Choice Wheels Limited invested in CarandBike.com | Mahindra has invested in the website-oriented player of the used car market i.e. CarandBike.com | India | This would enhance better Technological Controls |
| 2 | Cars24's smart pricing puts India's used car market in fast lane | Artificial intelligence is being utilised by Cars24 Services and other Indian businesses selling used cars to provide transparency to the industry. | India | This would enhance better Technological Controls |
| 3 | Policy vacuum speed breaker may slow down India's booming used car market | With the advent of companies like Cars24, Olx Autos, Droom, and CarTrade, the used automobile sector has gotten a boost. However, there is still a policy void. | India | This would enhance better Technological Controls |
| 4 | Car repossessions see sharp surge as used auto market in slow lane | As defaults are resolved through auction proceedings, repossessed automobile stockpiles are shifting to the used car market. | India | This would enhance better Technological Controls |
| 5 | Indiaâs Cars24, a used-vehicle sales platform, raises $400M, now at a $3.3B valuation | Cars24, an Indian business that has developed an app and website for selling second-hand cars and motorcycles, has acquired $400 million in funding, including a $300 million Series G round and another $100 million in debt. | India | This would enhance better Technological Controls |
By using online delivery and streamlining the procedure for customers with the aid of technical breakthroughs and contemporary solutions, the used car retailing platform Spinny said it intends to reach more than 30 cities by the end of 2022.
This choice, according to a press release from the corporation, was consistent with the FY22 growth of 15%. By 2024, used automobile sales are predicted to grow at a 10 percent CAGR, according to SIAM.
We take comfort in Spinny's natural usability and our expertise, we think, in figuring out what today's car customer needs, according to Spinny. We are bringing the quick and equitable Spinny approach to new Indian cities. Customers' acceptance of internet purchasing sparked the improvements.
A total of 21 cities, including Ahmedabad, Bangalore, Chennai, Delhi, Gurugram, Noida, Mumbai, Pune, Hyderabad, Kolkata, Lucknow, Jaipur, Chandigarh, Indore, Kochi, and Coimbatore, are served by Spinny's 36 car hubs at the moment.
According to the company, they are already operating in places that are well connected to larger cities like Hubli, Mangalore, Mysore, Ambala, and Karnal.
India Used Car Market is expected to gain market growth in the forecast period of 2024 to 2030. It is analyzed that the market is growing with a CAGR of XX.X% in the forecast period of 2020 to 2027 and is expected to reach USD XXXX million by 2027.
Covid-19 completely altered the course of operations, negatively impacted sales, and resulted in widespread layoffs. Lockdowns and lower income levels caused a considerable decline in first-hand car sales, although this had little impact on the country's increase in used cars.
Despite their financial worries, people did not want to sacrifice cleanliness and safety, which sparked a demand for used cars.The desire for used automobiles in India is a result of the greater affordability they offer compared to new cars.
The growth of several companies in this industry might be blamed for the emergence of organised participants in the used automobile market.Although the traditional automaker Maruti Suzuki was the first to enter the used car industry.
In response to a trend in India where used car sales are outpacing those of new automobiles, Mahindra First Choice Wheels has established a dealership for the selling of used cars at Motingar alongside Sachdeva.
There are now 32 used automobile dealerships in New Delhi, and three more are expected to open before the end of the year. Delivery of used cars into the area is in greater demand due to the expansion.
Nagar continued by stating that the Motingar store is Sachdeva's second facility after Lajpatnagar in the region's south, demonstrating the feasibility of the business concept.The Indian Blue Book (IBB), the primary source for used car pricing in the nation, is already utilised by logistics companies, OEMs, and buyers alike. Mahindra has also just introduced two new services for the used car industry.
Additionally, it now offers a 118-point checklist dubbed "Autoinspekt" for a more effective assessment of finished automobiles.
Cartrade just debuted CarWale abSure, a multi-channel platform. From warranties to inspection services, the online and offline vehicle retail platform will assist in resolving all issues associated with purchasing used cars.
The business has not developed to its full potential since one of the most worrisome aspects of purchasing old cars is the trust deficit. Since the supply of new cars is so limited, it is currently impossible to obtain a car that meets one's preferences.
Since the pandemic, the demand has been constant, but the supply is barely keeping up. One of India's top automotive platforms, CarTrade, offers a seamless experience for purchasing or selling new, used, or older vehicles.
To shed light on used car finance and promote a quick, easy, and streamlined purchasing experience, Bajaj Finance Ltd. and Cars24, a top online marketplace for pre-owned vehicles, have teamed up. Cars24 and Bajaj Finance Ltd. are empowering consumers by increasing their financial freedom and making owning a car more accessible after realising the crucial role financing plays when investing in a car.
Used car purchasers can obtain auto financing from Cars24 Financial Services Pvt Ltd, a fully owned subsidiary of Cars24 Services Private Limited, making the process easier, safer, quicker, and more accessible. With the assistance of Bajaj Finance Ltd.'s finance solutions, consumers will be able to enjoy Cars24's hassle-free customer experience and greater penetration into the used automobile market.
The industry is expected to rise significantly as more individuals prefer private transportation and more financing alternatives become accessible in the used automobile market.
According to the epidemic, customers have been forced to search for alternatives to new automobiles, and the used car market has a lot of room for expansion in this regard.
Owing to such pandemic's impact on new vehicle sales and production, the used automobile market is gaining popularity among purchasers.OLX India is a leading mobiliser of the various explorer oriented used cars requirements in the market. The entity employs a sophisticated CRM platform that allows their sales staff perform better while also offering a wonderful customer experience.
Designers required a powerful CRM solution to accomplish these goals. We deployed Salesforce Sales Cloud to automate our sales operations because of the large number of client touchpoints and amounts of data created every day.
Cars24 has been one of the most advanced solution provider in the used car requirements. All used vehicle dealers/brokers are gathered on this single online bidding platform. Price discovery is improved by dealer rivalry.
It has been trying to expand its operations, it makes sense to collaborate with big dealers, which are usually organised / semi organized in nature. As a result, their bidding platform has high share of organised / semi organized dealers vs. unorganised dealers.
One of the most well-known luxury car manufacturers in the world, BMW, offers the renowned program known as BMW Premium Selection. With a long history and dedication to excellence, BMW has become synonymous with style, power, and innovation.
By specifically catering to the used automobile market in India, the BMW Premium Selection program makes sure that clients can enjoy the thrill and beauty of a BMW vehicle at an alluring value.
Customers who participate in the BMW Premium Selection program get access to a carefully selected selection of previously used BMW vehicles that have undergone comprehensive inspection and certification.
This guarantees that every car satisfies the high standards of quality, dependability, and performance established by BMW.The program is made to give buyers the assurance that they are buying a high-end used car that has been carefully inspected and maintained.
Through the Premium Selection program, a wide variety of BMW vehicles are offered, including models from a range of market segments. Customers have a variety of alternatives to choose from, including the fast BMW 3 Series, the opulent BMW 7 Series, and the adaptable BMW X5 SUV. Each automobile in the program has a thorough service history, ensuring openness and giving customers full knowledge of the car's upkeep and ownership.
BMW Premium Selection vehicles must pass a thorough inspection conducted by trained experts in order to be certified. To ensure optimal performance and safety, every facet of the vehicleâfrom mechanical parts to electrical systemsâis carefully examined. Genuine BMW parts are used to make any required repairs or replacements, keeping the vehicle's originality and upholding the manufacturer's exacting quality requirements.
BMW Premium Selection vehicles come with a slew of advantages and warranty protection in addition to the inspection and certification process. Customers benefit from a guarantee that lasts for at least 24 months, adding an extra degree of security and assurance.
Customers can drive with confidence knowing they are supported by BMW's dedication to customer satisfaction thanks to this warranty, which covers a variety of aspects of the vehicle, including the engine, drivetrain, electrical systems, and more.
Additionally, BMW Premium Selection customers get round-the-clock roadside support to improve their ownership experience. In the event of a flat tire, a battery jump-start, or any other unforeseen circumstance, BMW is there to support its clients and make sure they can continue traveling without any problems. Further demonstrating BMW's commitment to providing first-rate customer service and care, this help is offered throughout India.
Customers who purchase a BMW Premium Selection vehicle also have the option to tailor their financing choices to meet their specific requirements. It becomes easier and more convenient to acquire a high-end used BMW with flexible and affordable financing options. Making the goal of owning a BMW a reality, BMW Financial Services works closely with customers to create customized finance options.
BMW Premium Selection is a thorough program that exemplifies BMW's dedication to quality in the used automobile market. Customers can purchase a quality pre-owned BMW with the utmost assurance and satisfaction thanks to a comprehensive inspection process, warranty coverage, roadside support, and adaptable financing choices.
In addition to highlighting the brand's commitment to quality and dependability, the program aims to provide customers with a remarkable ownership experience that embodies the luxury and performance that are the hallmarks of BMW.
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2024-2030 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2024-2030 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2024-2030 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
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