- Demand for pre-owned cars rose by 25 percent on OLX since February 2020
- 72 percent of the people surveyed have reduced their car buying budgets
- 55 percent of the respondents prefer commuting in their own cars
After the coronavirus pandemic and ensuing lockdowns brought the entire Indian automotive industry to a grinding halt earlier this year, there are now signs of gradual recovery, with the economy being reopened in a phased manner. While automakers have reported increasing sales in the past two months, it is the used car market that is showing a greater promise. A recent study by OLX, a digital consumer-to-consumer marketplace, highlights the trend and corroborates the expected surge in activity in the pre-owned car industry.
Increasing demand for pre-owned cars
In its latest ‘Auto Note’ car industry survey, OLX reports a substantial 25 percent increase in…