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India Used Luxury Car Market Size, Share, Forecast: By Vehicle Type: Hatchback, Sedan, Sports Utility Vehicle, Others; By Fuel Type: Petrol, Diesel, Electric; By Vendor Type: Organised, Unorganised; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032
India Used Luxury Car Market Outlook
The India used luxury car market size is projected to grow at a CAGR of 16.30% between 2024 and 2032. The market is being aided by the rising young population and the surging demand for luxury cars for subscription services and rentals.
Key Trends in the Market
Luxury cars refer to high-end cars that are usually more expensive than an average car. These cars are made of high-quality materials and have innovative features to make the riding experience comfortable. One of the defining features of luxury cars is their opulent interior made with materials such as fine leather, wood trim, and high-quality metals.
- The India used luxury car market growth is guided by the growing popularity of luxury car rentals and subscription services in urban centres. Consumers prefer used luxury vehicles to experience enhanced comfort without the burden of ownership. This concept is appealing to a broader demographic, including tourists and short-term users.
- India is home to a young population, with a median age of around 29 years. The India used luxury car market demand is being fuelled by the growing preference for luxury goods, including cars, among young consumers, especially millennials and Gen Z. These consumers are exploring premium automobile offerings, which has spurred the market growth.
- One of the major India used luxury car market trends is the exponential rise in the popularity of electric vehicles. With increasing environmental concerns, the Indian government has been implementing stringent policies to control emissions and promote the use of electric vehicles. Noticing the shifting scenario, major manufacturers are increasingly introducing luxury electric cars.
Market Analysis
Based on vehicle type, the market is segmented into hatchback, sedan, and sports utility vehicles, among others. The India used luxury car market segmentation, based on fuel type, includes petrol, diesel, and electric. The market, based on vendor type, is divided into organised and unorganised. The major states for used luxury cars in India are Maharashtra, Karnataka, Gujarat, Tamil Nadu, Haryana, Delhi, Uttar Pradesh, Kerala, West Bengal, and Chandigarh, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the India used luxury car market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Cars24 Services Private Limited
- CarDekho.com
- BMW India Pvt. Ltd.
- Big Boy Toyz Pvt Ltd.
- AUDI India
- Mercedes-Benz India Pvt. Ltd.
- CarTrade Tech Ltd (CarTrade.com)
- The Car Mall
- Valuedrive Technologies Private Limited (Spinny)
- Others
Market Share by Vehicle Type
Sedan cars are anticipated to account for a large portion of the India used luxury cars market share. Luxury sedans are preferred among Indian consumers owing to their high level of comfort. Furthermore, the surging presence of manufacturers offering state-of-the-art luxury electric vehicles has significantly enhanced the sales of used luxury cars in India.
Market Share by Fuel Type
According to the India used luxury cars market analysis, electric luxury cars are anticipated to witness a healthy growth in the market. Electric vehicles have gained a remarkable level of attention as a cleaner and environmentally friendly option. In addition, the implementation of favourable policies and subsidies for the adoption of electric vehicles further propels the development of the segment.
Competitive Landscape
BMW India Pvt. Ltd. is one of the most popular brands in the country, operating under its parent organisation Bayerische Motoren Werke AG, a leading global luxury vehicle manufacturing company. BMW India was incorporated in the year 1997 and has since introduced a wide array of premium vehicles in the Indian market.
Big Boy Toyz Pvt Ltd. is a renowned Indian company that specialises in dealing with pre-owned luxury and exotic cars. Since its inception in 2009, the company has experienced rapid growth, emerging as a prominent player in India automotive sector. Located in Haryana, Big Boy Toyz has built a strong reputation for providing a wide selection of carefully curated, top-tier pre-owned cars from prestigious global automotive brands.
AUDI India is the Indian branch of Audi AG, the world-famous luxury automobile manufacturer based in Germany. Since the company’s establishment in 2007, it has developed a strong presence in the market for luxury cars. The company's headquarters is located in Mumbai, and it operates a network of dealerships across various cities in the country.
Other market players include Cars24 Services Private Limited, CarDekho.com, Mercedes-Benz India Pvt. Ltd., CarTrade Tech Ltd (CarTrade.com), The Car Mall, and Valuedrive Technologies Private Limited (Spinny), among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Vehicle Type |
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| Breakup by Fuel Type |
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| Breakup by Vendor Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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India Used Luxury Car Market Report Snapshots
India Used Luxury Car Market Size
India Used Luxury Car Market Analysis
India Used Luxury Car Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 India Used Luxury Car Market Overview
8.1 Key Industry Highlights
8.2 India Used Luxury Car Historical Market (2018-2023)
8.3 India Used Luxury Car Market Forecast (2024-2032)
9 India Used Luxury Car Market by Vehicle Type
9.1 Hatchback
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Sedan
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Sports Utility Vehicle
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Others
10 India Used Luxury Car Market by Fuel Type
10.1 Petrol
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Diesel
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Electric
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 India Used Luxury Car Market by Vendor Type
11.1 Organised
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Unorganised
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 India Used Luxury Car Market by States
12.1 Maharashtra
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Karnataka
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Gujarat
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Tamil Nadu
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Haryana
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Delhi
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Uttar Pradesh
12.7.1 Historical Trend (2018-2023)
12.7.2 Forecast Trend (2024-2032)
12.8 Kerala
12.8.1 Historical Trend (2018-2023)
12.8.2 Forecast Trend (2024-2032)
12.9 West Bengal
12.9.1 Historical Trend (2018-2023)
12.9.2 Forecast Trend (2024-2032)
12.10 Chandigarh
12.10.1 Historical Trend (2018-2023)
12.10.2 Forecast Trend (2024-2032)
12.11 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Company Profiles
14.1 Market Structure
14.2 Company Profiles
14.2.1 Cars24 Services Private Limited
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 CarDekho.com
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 BMW India Pvt. Ltd.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Big Boy Toyz Pvt Ltd.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 AUDI India
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Mercedes-Benz India Pvt. Ltd.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 CarTrade Tech Ltd (CarTrade.com)
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 The Car Mall
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Valuedrive Technologies Private Limited (Spinny)
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. India Used Luxury Car Market: Key Industry Highlights, 2018 and 2032
2. India Used Luxury Car Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
3. India Used Luxury Car Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
4. India Used Luxury Car Historical Market: Breakup by Fuel Type (USD Million), 2018-2023
5. India Used Luxury Car Market Forecast: Breakup by Fuel Type (USD Million), 2024-2032
6. India Used Luxury Car Historical Market: Breakup by Fuel Type (USD Million), 2018-2023
7. India Used Luxury Car Market Forecast: Breakup by Fuel Type (USD Million), 2024-2032
8. India Used Luxury Car Historical Market: Breakup by Vender Type (USD Million), 2018-2023
9. India Used Luxury Car Market Forecast: Breakup by Vender Type (USD Million), 2024-2032
10. India Used Luxury Car Historical Market: Breakup by States (USD Million), 2018-2023
11. India Used Luxury Car Market Forecast: Breakup by States (USD Million), 2024-2032
12. India Used Luxury Car Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 16.30% between 2024 and 2032.
The growing popularity of luxury car rental services and the presence of a young population who have a strong interest in luxury cars are the major market drivers.
The market growth is guided by the increasing demand for electric vehicles and the increasing affluent population in the country.
The major states include Maharashtra, Karnataka, Gujarat, Tamil Nadu, Haryana, Delhi, Uttar Pradesh, Kerala, West Bengal, and Chandigarh, among others.
The different vehicle types include hatchback, sedan, and sports utility vehicles, among others.
The various fuel types used in the product are petrol, diesel, and electric.
Organised and unorganised are the several vendor types of used luxury car.
The key players in the market include Cars24 Services Private Limited, CarDekho.com, BMW India Pvt. Ltd., Big Boy Toyz Pvt Ltd., AUDI India, Mercedes-Benz India Pvt. Ltd., CarTrade Tech Ltd (CarTrade.com), The Car Mall, and Valuedrive Technologies Private Limited (Spinny), among others.
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