Ahmedabad: The country’s old cars market is increasing continuously at the rate of 10 to 12 percent in the last two-three years. In the year 2025-26, the sales of old cars may exceed new cars. Industry sources said that the average sales price of old cars is also increasing due to increasing demand. The country’s used car market is increasing continuously at the rate of 10 to 12 percent in the last two-three years.
Given the current situation, it is expected to increase to $ 40 billion in FY 2026. This means that in terms of numbers, the sales of cars used are expected to be between 6.5 million to 7 million.
Currently, the domestic market of new cars is expected to be around $ 43 billion. This increase will also promote increase in other areas like tire, finance etc. The new car market reached a historic high level of 4.2 million vehicles in 2023-24 and is expected to remain stable this year.
In the financial year 2026, sales of new cars are expected to increase by one to two percent to about 4.5 million to 4.6 million vehicles. Conversely, a strong growth in the car market used is seen.
From the point of view of markets, recently Bangalore, Hyderabad and Pune have seen the most increase. In terms of price, cars (especially compact SUVs) with a range of Rs 6 lakh to Rs 8 lakh have been the highest demand, which is based on many factors such as their performance, location, price and attraction of the big car.
Due to this increase in demand, the average selling price of cars used in the country has also increased. The average selling price of the car used in India is between Rs 4.5 lakh to Rs 5 lakh, which is increasing and has increased by 10 to 15 percent in the last two-three years. The prices of budget cars (3 to 5 lakh rupees) have increased by 10 to 12 percent.
The prices of middle -class vehicles (5 to 10 lakh rupees) have seen an increase of 14 to 16 percent. The region has seen the fastest growth in premium and SUV models. It has increased by up to 20 percent due to high demand and limited supply. Another factor promoting the growth of cars used is that the average duration of ownership has decreased.
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