India Second Hand Car

India Second Hand Car Market Research Report: Forecast (2021-2026)

By Vehicle Type (Hatchbacks, Sedans, Hybrid, Electric, Others (Sports Utility Vehicles, Multi Utility Vehicles)), By Vendor Type/ Sector (Organized, Unorganized), By Fuel Type (Petrol, Diesel, Others) Read more

  • Automotive
  • Apr 2021
  • 105
  • AT66012

Market Overview

Second-hand cars are also known as pre-owned cars or used cars that previously had one or more owners. Such cars are sold primarily through different outlets, rental car companies, and private party sales.

According to the MarkNtel Advisors' research report, "India Second-Hand Car Market Analysis, 2021," the market is expected to grow at a CAGR of around 15.6% during 2021-26. The market growth attributes to the introduction of BS-VI norms, i.e., the government has mandated that vehicle manufacturers must produce, sell, and register only BS-VI vehicles across the country.

The prices of BS-VI vehicles are comparatively higher, resulting in consumers exploring more options while buying second-hand cars. The availability of multiple online platforms for buying second-hand cars has aided the number of consumers since it is a more convenient and transparent mode of buying second-hand cars.

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR (2021-2026) 15.6%
Key Companies Profiled CARS24, Maruti True Value, Mahindra First Choice Wheels, Hyundai H Promise, Honda Auto Terrace, Ford Assured, Toyota U Trust, Big Boy Toyz, BMW Premium Selection, Audi Approved Plus, Mercedes-Benz Certified, Car Trade, OLX
Unit Denominations USD Million/Billion

Impact of COVID-19

During Early 2020, lockdown imposed by the government and stringent social distancing norms has resulted in few owning a private car rather than using public transport. Car companies have also started providing online vehicle bookings and are showing more features through their websites rather than exposing them to their respective showrooms. Moreover, most companies are available online or via phone for consumer queries regarding the purchase of second-hand vehicles.

Market Segmentation

Organized Sector Likely to Register Fastest Growth

Within the vendor type/ sector, the market classifies into Organized and Unorganized segments, wherein the Organized division is likely to witness the fastest growth during the forecast period due to the rising online platforms, such as CarDekho, Cars24, Droom, etc.

Nowadays, most OEMs have got themselves into the second-hand Car market providing all safety measures, transparency, and negligible risks while purchasing, which is an edge over the unorganized market. Hence, these factors contribute to the growth of the second-hand car market in India during the forecast period, reveals MarkNtel Advisors in their research report, "India Second-Hand Car Market Analysis, 2021."

SUV Car Accounted for the Largest Market Share

Based on vehicle type, SUVs acquired the highest share in the Indian second-hand car market in the previous few years. Significant reasons behind this growth are bad road conditions as an SUV offers more ground clearance than sedans. The increasing number of SUVs has made consumers shift towards them rather than opting for a sedan or hatchback. Moreover, easy financing options and excellent warranty offered by OEMs have further inclined consumers toward purchasing SUVs.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Market Segmentation
    4. Assumptions
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on India Men’s Grooming
  5. India Second Hand Car Market Analysis, 2016-2026F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Vehicle Type
        1. Hatchbacks
        2. Sedans
        3. Hybrid
        4. Electric
        5. Others (Sports Utility Vehicles, Multi Utility Vehicles)
      2. By Vendor Type/ Sector
        1. Organized
        2. Unorganized
      3. By Fuel Type
        1. Petrol
        2. Diesel
        3. Others
      4. By Car Size
        1. Compact car
        2. Mid-sized car
        3. Large-size car (SUV)
      5. By Sales channel
        1. Online
        2. Offline
      6. By Region
        1. North
        2. East
        3. West
        4. South
        5. North-East
      7. By Competitors
        1. Competition Characteristics
        2. Market Shares
  6. India Second Hand Car Market Policies, Regulations, Product Standards
  7. India Second Hand Car Market Policies, Regulations, Product Standards
  8. India Second Hand Car Market Trends & Insights
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  9. India Second Hand Car Market Hotspot & Opportunities
  10. India Second Hand Car Market Hotspot & Opportunities
  11. India Second Hand Car Market Key Strategic Imperatives for Success & Growth
  12. Competition Outlook
    1. Competition Matrix
      1. Product/ Solution Portfolio
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. CARS24
      2. Maruti True Value
      3. Mahindra First Choice Wheels
      4. Hyundai H Promise
      5. Honda Auto Terrace
      6. Ford Assured
      7. Toyota U Trust
      8. Big Boy Toyz
      9. BMW Premium Selection
      10. Audi Approved Plus
      11. Mercedes-Benz Certified
      12. Car Trade
      13. OLX
  13.  Disclaimer
India Second Hand Car Market Segmentation
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