India Used Car Market Trend Analysis, Forecast 2022-2028
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting , revealed that India Used Car Market was worth USD 29.8 billion in the year 2021. It is estimated to grow at a CAGR of 11.8%, earning revenue of around USD 65.1 billion by the end of 2028. The lucrative growth of India Used Car Market is attributed to the growing inclination of consumers toward used cars owing to their affordability and improved after-sales services. Also, the rising young generation preference for a used car that has an average holding time of 3 to 6 years over a new car. This is because the used car has more features than the new car at the same price range. Furthermore, India Used Car Market is one of the most emerging markets that grow continuously owing to the fast integration of new technologies like the Internet of Things (IoT), artificial intelligence (AI), cloud computing, and others. However, the rising co...