The demand for used cars in India is on the rise and is expected to further post a double-digit growth in the country. Various studies also indicate that about 60% of the used cars sold in India have been running for less than 5 years indicating that car owners in India are willing to change their cars every 5 years. With no car scrapping policy in place, the used car market in urban cities and tier-1, tier-2 cities have witnessed good demand is the used car space. Massive improvement in road infrastructure and better connectivity to rural areas are other major factors that have lead to the growth in the used car market in India.
Over the last 18 months, the demand for SUVs in the used car market has gradually gone up has seen a 24% spike in both urban and rural markets. Metro cities like Chennai, Bengaluru and Mumbai saw strong demand in sedans and hatchbacks and cities like Kolkata, Pune and Hyderabad have a huge demand for cars like Toyota Innova, Ford Ecosport, Volkswagen Polo and Ameo.
Online Car sales:
OLX says that on its portal there are about 8 used cars being listed every minute taking the count to about 4 lakh used cars going on sale every month out of which about 40% are sold within the first week of listing. OLX says that the vehicle ownership cycle in India has reduced from 7 years to 4 years and expected to reduce further to 3 years by 2020.
Best used car on sale in Delhi/NCR:
|1||Honda City||Rs 6.5 lakh|
|2||Nissan Micra||Rs 4.50 lakh|
|3||Hyundai i20||Rs 6.15 lakh|
|4||Skoda Rapid||Rs 7.25 lakh|
|5||Honda Amaze||Rs 5.45 lakh|
In the national capital, the demand for used car market has not grown but has remained consistent over last 2 years. Used petrol cars are in more demand in the Delhi/NCR region. Honda City is one of the top picks in the pre-owned car segment in the sedan space. Cars like Maruti Suzuki Alto, Wagon R and Omni are also in high demand followed by Hyundai i20. The diesel top variants of cars like Skoda Rapid are available at a starting price of Rs 7.25 lakh. Renault Duster, Maruti Suzuki Ciaz are also available in Delhi for less than Rs 10 lakh.
Best used cars on sale in Mumbai:
|1||Volkswagen Cross Polo||6.30 lakh|
|2||Hyundai i20 Active||7.32 lakh|
|3||Mahindra KUV 100||4.90 lakh|
|4||Maruti Suzuki Ciaz||6.90 lakh|
|5||Ford Ecosport||7.95 lakh|
The trend in Mumbai and Navi Mumbai is seeing an increased demand in crossover vehicles and SUVs. Crossover vehicles including Volkswagen Polo Cross and Hyundai i20 Active are being sold at a starting price of Rs 6.30 lakh and 7.30 lakh respectively. Mahindra's youngest SUV, KUV100 top variants are up for sale for less than Rs 5 lakh and the pre-facelift used Ford Ecosport facelift SUV with the 1.EcoBoost engine can be bought for less than Rs 8 lakh. Used cars sales in Mumbai is a booming business and is expected to further grow in this financial year.
Best used car on sale in Chennai:
|1||Volkswagen Ameo||6.5 lakh|
|2||Maruti Suzuki Ciaz||6.85 lakh|
|3||Fiat Avventura||5 lakh|
|4||Volkswagen Polo||4.65 lakh|
|5||Hyundai Grand i10||4.55 lakh|
Used car sales in Chennai has always seen a mix of segments posting major growth and right from mid-size sedan space to crossover vehicles like Fiat Avventura is on sale. Chennai is also considered to have one of the best pre-owned car markets in the country. Hyundai Grand i10 and Volkswagen Polo are other top moving cars in the pre-owned car market.
Best used cars on sale in Kolkata:
|Hyundai Verna Fluidic||7.1 lakh|
|Nissan Terrano||8 lakh|
|Toyota Innova||7.5 lakh|
|Mahindra Bolero||7.5 lakh|
|Mercedes Benz C-Class||7 lakh|
OLX study says that Maruti Suzuki cars are the top choice for buyers in the hatchback segment and is led by the Maruti Suzuki Alto 800 and Maruti Suzuki Swift. Honda leads the sedan space with its Honda City being one of the most popular buy in the used car space. Skoda Superb, receives the highest number of enquiries in premium sedan category as compared to any other model.