The Indian used car market has been growing at a rapid pace. It’s a rather unknown fact that there are more used transactions than new car deals in the country. In fact, the pre-owned market is now more than double that of new cars. This means in 2016, over 40 lakh second hand cars were bought or sold in India. So which among these are the top runners?
We at CARS24 decided to dig deep into our data and came out with these exclusive insights. The data showcases the most popular second hand cars in India – this also means if you buy such cars in the first place, it will be easier for you to sell them off a few years down the line as well as get a better rate owing to higher market demand.
The Maruti Suzuki Swift emerged as a clear winner with a used car market share of 7.49% for the year 2016. It is closely followed by its younger sibling, the Alto with a market share of 7.26%. The surprise however, comes from Hyundai – both the i10 and Santro are no more in production but put together, hold a market share of 12.05% in second hand cars.
Quick look at top 5 second hand cars in India with their market share
CARS24 Tip: When purchasing a new car, it is advisable to stick to popular models as they hold their re-sale value very well. Further, its easier to sell such cars. Have a look at our “top 10 cars with best re-sale value” article for more!
Maruti Suzuki continues to dominate the Indian used car segment as well with a market share of 35.51%. However, this is a big contrast as compared to their new car market share of over 50%. This clearly means that the average holding period for a Maruti car is much higher as compared to other manufacturers – speaks about reliable cars that last for ages!
As expected, Maruti is followed by Hyundai with a market share of 23.64%. A big surprise here is Chevrolet which occupies the 5th spot with a market share of 5.47%. This is a huge departure as compared to its new car market share. This insight means Chevrolet customers are replacing their cars very frequently which could be possible due to a poor ownership experience.
CARS24 will continue to bring you such exclusive used car insights. Stay tuned for more! In the meantime, you can head over to our detailed article on the best used sedans under 2 lakh.
Disclaimer: the above data is solely based on the used cars that CARS24 bought directly from customers in 2016.