There is a huge difference between buying a used car and purchasing a brand new car. While buying a new car the big parameter considered by the buyer is the brand, it’s after sales network and then comes real value. It’s not the same with a used car. While buying a used car it’s the listings that will indicate the rising demand for an Individual product, of course, the brand also plays a crucial role. For instance, a Maruti Suzuki or a Hyundai product will have more demand in the used car segment because of the availability of spare parts, efficiency and more availability in the used car space.

Buying a car remains an aspiration for the Indian middle class and are the second most important buying decision done by a family after property.A report on India Blue Book says that the pre-owned or used car market size is about 3.6 million units in 2017 that has gone up by 9% from 2016. In India, about 60% of the used cars sold are less than 5 years old that indicates that car owners are willing to change a car in 5 years.

Source:

Best used cars to buy: List of cars with high demand in the second-hand car market

Economics I understood