In financial year 2023, the market value of used cars was around 31 billion U.S. dollars. It was estimated that in 2028, it would increase to around 70 billion dollars. During the presented period, a general growth trend could be observed.
The predominantly unorganized market for used cars in India has grown immensely. It was estimated that by financial year 2028, the used car to new car market ratio would be approximately 1.9 across the country. However, the pace of industry organization has picked up speed during the pandemic, especially through digitization. Several online trading platforms have emerged and become more and more popular.
Market value of used car in India from financial year 2020 to 2023, with estimates until 2028
(in billion U.S. dollars)
Characteristic
Market size in billion U.S. dollars
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Exclusive Premium Statistic
To access all Premium Statistics, you need a paid Statista Account
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
IndianBlueBook. (May 14, 2024). Market value of used car in India from financial year 2020 to 2023, with estimates until 2028 (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/1345589/india-market-size-of-used-car/
IndianBlueBook. "Market value of used car in India from financial year 2020 to 2023, with estimates until 2028 (in billion U.S. dollars)." Chart. May 14, 2024. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/1345589/india-market-size-of-used-car/
IndianBlueBook. (2024). Market value of used car in India from financial year 2020 to 2023, with estimates until 2028 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/1345589/india-market-size-of-used-car/
IndianBlueBook. "Market Value of Used Car in India from Financial Year 2020 to 2023, with Estimates until 2028 (in Billion U.S. Dollars)." Statista, Statista Inc., 14 May 2024, https://www.statista.com/statistics/1345589/india-market-size-of-used-car/
IndianBlueBook, Market value of used car in India from financial year 2020 to 2023, with estimates until 2028 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1345589/india-market-size-of-used-car/ (last visited August 25, 2024)
Market value of used car in India from financial year 2020 to 2023, with estimates until 2028 (in billion U.S. dollars) [Graph], IndianBlueBook, May 14, 2024. [Online]. Available: https://www.statista.com/statistics/1345589/india-market-size-of-used-car/