Bengaluru
Bengaluru has emerged as the leading market for used cars in India, with sales through the ‘Cars24’ platform skyrocketing by an impressive 133% this year compared to the previous year. This surge in demand is attributed to changing mindsets, particularly among young buyers, who are increasingly opting for pre-owned cars over new ones due to economic advantages and ease of availability. Gajendra Jangid, co-founder of ‘Cars24,’ commented on this trend, stating, the significant increase in used car sales in Bengaluru is a testament to the city’s vibrant automobile market. In 2023 (up to August), the second-hand car sales market in Bengaluru is estimated to be around Rs 500 crore. Customers are particularly drawn to hatchback models priced under Rs 6 lakh, which are readily available in the used car market. These cars offer efficient use of interior space and low fuel consumption, making them appealing to buyers. The process of purchasing pre-owned cars is streamlined, enhancing the overall buying experience. Maruti Suzuki Swift, Renault Kwid, and Hyundai i20 are among the most popular used car models in Bengaluru. The majority of buyers are individuals under the age of 35 who prioritize practicality and value for money over luxury. Small cars are favored for their suitability in daily routines, such as commuting to the office or college. This shift in consumer preferences is reshaping the automobile market, with Bengaluru leading the way in embracing the used car trend.
