H. Yoo
Research expert covering South Korea
Used vehicle market in India - statistics & facts
The used vehicle market is a relatively elusive segment of the India’s automotive industry, and not because of size or lack of interest from consumers and businesses. It is mostly because the majority of the market is dominated by the unorganized sector, with transactions conducted by roadside mechanics, small brokers, and among car owners. The market volume of used cars in India has surpassed five million units in the financial year 2023. This makes it one of the largest used vehicle markets in the world, not far behind some of the more mature markets, including Japan.
