Technology and Business Services
For passenger vehicles, pre-loved becoming more loved
16 Apr 2022
1 min read
In FY21, the used car to new car ratio in India was 1.4, but it is projected to reach 2 by FY26, according to the report ‘Used Car Market in India’ released by Praxis Global Alliance. “While the Indian passenger vehicle market was valued at $32 billion in FY21 and is projected to grow at a CAGR of 8% till FY26, the used car market was valued at $18 billion in FY21 and is projected to grow at double the rate, at a CAGR of 15% till FY26,” the report noted.