Mexican Media Brands
India’s Used-Car Market to Grow 50% by 2023
India’s used-car market will expand to 6.6 million vehicles per year by 2023 from 4.4 million in the current fiscal year, predicts online marketplace OLX.
#economics
Share
India’s used-car market will expand to 6.6 million vehicles per year by 2023 from 4.4 million in the current fiscal year, predicts online marketplace OLX.
Demand for used cars, already greater than India’s new-car market, should reach 5 million units in 2020, the online service says. The market’s value is expected to balloon from $14 billion this year to $25 billion by 2023.
OLX says Indian consumers under the age of 38, which represent about one-third of India’s population, are driving used-car sales.
More than half of those it polled believe they get a better price by selling their used cars online. One-third use the proceeds of a sale to buy a new car, and 17% apply the funds to purchase a better-used car.
RELATED CONTENT
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.