Pre-owned car prices on a high backed by increased demand

by Sumana Sarkar 29 May 2021


The pre-owned car segment is, on a high, globally. The semiconductor shortage delaying production of new cars, rising commodity prices leading to higher costs, financial uncertainties due to Covid-re have all contributed to a greater demand for pre-owned cars.

Autocar Professional in association with AU Small Finance Bank brings forth all the latest development in the pre-owned car segment in its latest newsletter.

  • Global used car prices hit record high: The Manheim Index, which gives an indication of wholesale used vehicle auction pricing, has moved up 52 percent higher year-on-year, indicating the upward trend in pre-owned vehicle prices globally. Find out if it will affect pre-owned car prices in your vicinity.
     
  • Indian Blue Book forecasts 10-25 percent growth: The report states that The gap between the size of the pre-owned car market and the new car market of pre-owned cars has doubled between FY2019 and FY2020 and by the end of FY2022, pre-owned car sales could be upward of 7 million.
     
  • A marketplace for B2B pre-owned cars: Okshan, a brand of Sanch Motors, has launched, what it claims is the country’s first B2B virtual marketplace for pre-owned cars. The platform connects new car dealers and used car brokers. We get you details of the sales dynamics.
     
  • Boys & Machines reaches out to Tier 2 cities: Luxury pre-owned car brand Boys & Machines is now targeting Tier II cities as it sees increased business traction.
     
  • The 5 most important facts if you want a pre-owned car loan: Applying for a car loan is never easy, especially if it is for a pre-owned car. We help you with the top industry guidelines for a smooth experience.
     

Therefore, if you are planning to buy a pre-owned car that is affordable, efficient and fits your budget, simply log in to ‘Car-O-Meter’ for a comprehensive update about the industry.