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Global Used Cars Market (2020 to 2027) - by Vehicle Type, Fuel Type and Distribution Channel

Global Used Cars Market (2020 to 2027) - by Vehicle Type, Fuel Type and Distribution Channel
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'Pre-owned car market to cross 7 mn units by FY25'

Smaller cities driving growth: study
India will sell 7.1 million pre-owned cars by fiscal 2025, up from 3.9 million in FY21, said IndianBlueBook (IBB), a Mahindra & Mahindra floated pricing and analytics platform.
In FY20, the country sold 4.2 million used cars. However, FY21 sales were hit by COVID-19 and volumes dropped by 7.1%, the soon-to-be unveiled study reveals. “This year, FY22, has just started, and we are stuck in COVID 2.0,” said Ashutosh Pandey, CEO & MD, Mahindra First Choice Wheels Ltd.
“But assuming that this wave will not cripple the industry completely, we anticipate at least 7-10% growth in the quantum of used cars sold in the year,” he said. ....

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Global Used Cars Market revenue to exceed $1.5 Tn by 2027; Global Market Insights Inc.

Global Used Cars Market revenue to exceed $1.5 Tn by 2027; Global Market Insights Inc.
Some of the major used cars market players are Arnold Clark Automobiles, Asbury Automotive Group, CarMax, Carvana, Emil Frey AG, Maruti Suzuki True Value, TrueCar, and AutoNation.
Selbyville, Delaware, April 05, 2021 (GLOBE NEWSWIRE)
Global Market Insights Inc. has recently added a new report on the used cars market which
estimates the market valuation for used cars will cross US$ 1.5 billion by 2027. The market is expected to witness a high growth rate due to the significant increase in the availability of used cars through online portals. Websites and smartphone applications allow buyers to conveniently compare and purchase used cars, accelerating the market size. ....

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Scrappage policy to drive growth of used cars in the medium term

Scrappage policy to drive growth of used cars in the medium term
February 04, 2021
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Govt plans to levy Green Tax at 10-25% for commercial vehicles over eight years old and personal vehicles of over 15 years
The voluntary scrappage policy, announced during the Budget, can drive the growth of used car volumes in the medium term as customers start replacing their old cars with younger cars, according to companies and analysts.
The Budgent had proposed a voluntary vehicle scrapping policy to phase out old and unfit vehicles. “This will help in encouraging fuel efficient, environment friendly vehicles, thereby reducing vehicular pollution and oil import bill. Vehicles would undergo fitness tests in automated fitness centres after 20 years in case of personal vehicles, and after 15 years in case of commercial vehicles,” she said. ....

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