The demand for pre-owned vehicles aged 3-5 years is increasing rapidly, causing annual price hikes of 8-10%. This trend, alongside the growing popularity of SUVs, is boosting the organized used car market, projected to hold a 45% share within three years. The Indian Blue Book report indicates that the current pre-owned car market value of $32.44 billion is expected to more than double to $73 billion by FY28. Volkswagen’s Das WeltAuto platform saw a 12% growth, selling nearly 30,000 used cars last year. Financing is a key growth driver; while 70-75% of new car sales are financed, only 25% of used car sales are, showing potential for increase.
Rising Demand for Young Pre-Owned Vehicles Drives Up Prices and Expands Organized Market
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