VW expects big returns in pre-owned car market

VOLKSWAGEN PASSENGER Cars India, through its pre-owned car business Das WeltAuto, revealed growth trends related to India’s used car market, customer buying patterns and the opportunities to further develop the market. The study, ‘Indian Pre-owned Car Market Study’, by Frost & Sullivan revealed the market outlook wherein organized platforms would contribute 45 per cent to the total pre-owned car market by FY2025. It estimates the used car market to touch 8.2 million units by FY25 from 3.8 million units in FY21. The study also touched upon the fact that 94 per cent of current owners are the final decision makers in the actual purchase of used cars, spouse accounts for 57 per cent and other family members and friends comprises of 52 per cent as the key influencers, while 66 per cent of potential customers prefer warranty of at least one year in purchase of a used car.