Used-car sales in India to cross 1 crore annual sales mark by 2030: Report
CARS24. As per the 'Gear of Growth: The 2024 Indian Used-Car Market Report', Maharashtra, Uttar Pradesh and Delhi are driving the country's used-car boom.
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«The market is projected to grow from 4.6 million sales in CY23 to a whopping 10.8 million by CY30, cruising ahead with an impressive CAGR of 13 per cent,» CARS24 Co-Founder Gajendra Jangid said.
As the customer preferences change for more affordable and dependable options, the used-car market is witnessing an uptick vis-a-vis the new car market, he added.
As per the report, SUVs continue to dominate the used car market with a share of 16.7 per cent in 2024.
Their spacious design, versatility, and premium appeal make them a favourite across both urban and rural markets, it noted.
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