New Delhi: As car prices gear up for another hike in 2025 amid rising taxes and stricter emission norms, a quiet revolution is sweeping India’s automotive landscape: the used car market is emerging as the savvy buyer’s ultimate shortcut to premium wheels without breaking the bank.
Valued at a whopping USD 36-45 billion in 2024, the pre-owned segment is racing ahead with projected growth to USD 73-101 billion by 2030 at 10-15 per cent CAGR – often outpacing branded car sales. Why the shift? Massive savings top the list: a nearly-new SUV can be yours for 30-40 per cent less than the showroom price, thanks to the steep depreciation hit borne by the first owner.
Young professionals aged 25-45, many first-time car buyers upgrading from two-wheelers, drive this boom. Digital platforms like Cars24 have transformed the game with transparent pricing powered by over 10 lakh transactions. They also offer rigorous 300-point inspections, and perks like zero down-payment, six-year EMIs, three-year warranties, and even 30-day returns.
Add soaring online transactions (now nearly 30 per cent), assured buybacks, and a flood of certified vehicles from trusted brands like Maruti Suzuki and Hyundai, and the message is clear: in today’s economy, buying used isn’t compromised – it’s smart ownership.
From hatchbacks to aspirational SUVs like Creta and Brezza, Indians rediscover that true value lies not in showroom shine, but in intelligent choices.