Pre-owned cars see surge in demand this Diwali

It is brisk business for the automotive industry this festive season and even the pre-owned car market is witnessing strong demand. Buying a second-hand vehicle is not looked down upon anymore, be it in the entry-level segment or even the luxury market. Many first-time customers are happy to buy a second-hand car this Diwali. So much so, that sale of pre-owned cars has seen a 30% jump this festive season over last year.

Immediate availability in the used car market as opposed to a long waiting period for a new car and lower upfront cost is a big attraction, adding to that is attractive festive schemes.

New car sales will likely grow 18% this festive season and the pre-owned market is not far behind. If you speak about luxury cars, the pre-owned luxury car market is witnessing a 35% growth.