There has been a considerable increase in the demand for used luxury cars like Mercedes, BMW, Porsche, etc. Premium auto makers have decided to join the used car market in India which is witnessing a strong and robust demand continuously.
All the three brands are either planning to enter the used car market or trying to extend their reach to their customer base. “The used luxury car market is a fast-growing segment with demand flowing from owners of small cars as well as those of mid-sized premium sedans. There has been no slowdown in demand for such cars despite the downturn,” said Ashwin M Sanghi, director, Sanghi Motorcar Company (dealers of Mercedes Benz).
The used car market in India for luxury cars account for 15-20 luxury cars sold amongst total 100 used cars sold in the country. Nearly 70 percent of the used car market in the country is operated by independent used car sellers. However, the growth in this segment has nearly doubled over past two years.