India Second Hand Car Market Overview: 2025-2030

Base Year: 2024

Historical Years:  2020–23

Forecast Years: 2025-2030

India Second Hand Car Market size is valued at around USD 35.1 billion in 2024 and is anticipated to reach around USD 68.32 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 14.87% during the forecast period, i.e., 2025-30.

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India Second Hand Car Market Dynamics: 2025-2030

India Second Hand Car Market Opportunity:

Emerging Market in Tier II/Tier III Cities – With rapid urbanization in the Tier II and Tier III cities in India, there has been an increased demand for personal modes of transport which offers high growth potential for the second-hand car industry. To tap into this expanding market and capture the growing customer base, the operations need to be expanded in the form of local dealerships, more online channels, and service centers to cater to the needs of the customers. The opportunity can also be grabbed by developing unique strategies to cater preferences of customers from specific regions, providing services like customization based on regional needs. Thus, increasing demand from tier II and tier III cities is providing ample growth opportunities for the top companies operating in the second-hand car industry in the country.

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India Second Hand Car Market (2025-30): Segmentation Outlook

The market report has segmented the market into the following categories:

By Vehicle Type

-Hatchbacks -Market Size & Forecast 2020-2030F, Units Sold (Thousand)

-Sedans-Market Size & Forecast 2020-2030F, Units Sold (Thousand)

-SUVs-Market Size & Forecast 2020-2030F, Units Sold (Thousand)

The hatchback segment holds the largest market share. This segment constitutes nearly 50% of the whole Indian Second Hand Car Industry.

By Propulsion Type

-ICE-Market Size & Forecast 2020-2030F, Units Sold (Thousand)

-Petrol-Market Size & Forecast 2020-2030F, Units Sold (Thousand)

-Diesel-Market Size & Forecast 2020-2030F, Units Sold (Thousand)

-Others (CNG, LPG, etc.) -Market Size & Forecast 2020-2030F, Units Sold (Thousand)

-Electric-Market Size & Forecast 2020-2030F, Units Sold (Thousand)

By Sales channel

-Online-Market Size & Forecast 2020-2030F, Units Sold (Thousand)

-Offline-Market Size & Forecast 2020-2030F, Units Sold (Thousand)

By Region

-North

-East

-West

-South.

The major part of the second-hand industry is in North India with a share of approximately 30% which is the whole of the Indian market.

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Top Companies Operating in the India Second Hand Car Market:

-Cars24 Services Private Limited

-Maruti Suzuki True Value (Maruti Suzuki India Limited)

-Mahindra First Choice Wheels Limited

-Hyundai Motor India

-Honda Cars India Limited

-Ford Assured (Ford Motor Company)

-Toyota U Trust

-Big Boy Toyz

-BMW AG

-Audi Approved Plus

-CarTrade Tech Limited

-Droom Technology Pvt Ltd.

Industry Recent Development:

• August 2024: Cars24 Services Private Limited introduced a new function for their application called "Cars24 AI Inspection" which uses artificial intelligence to assess used card conditions to decrease human error and produce more accurate appraisals.
• July 2024: Mahindra First Choice Wheels Limited focused on both urban and semi-urban areas to develop its client base by expanding its network of pre-owned car stores across India by 50%.

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