India, May 7 -- The Indian passenger vehicle market is growing at a rapid pace. With the renewed focus on personal mobility since the outbreak of the Covid-19 pandemic, the Indian passenger vehicle market is witnessing a massive surge in consumer demand. At the same time, various factors such as inflation, rising cost of raw materials, economic crisis, and insecurity around jobs have been putting pressure on consumers. Weighing in the need for personal mobility and such challenges, consumers are shifting their focus to used or pre-owned cars.

While new car sales still remain the benchmark of growth for the passenger vehicle market, used cars are giving the new models a run for money. Challenges like the rising cost of ownership for vehic...