Mumbai, April 30 -- Redseer Strategy Consultants has released a new report stating that India is on track to become one of the world's most attractive used-car markets. The analysis focuses on retail transactions of passenger vehicles. Market value is projected to double from approximately USD 35 billion in fiscal year 2026 to nearly USD 70 billion by fiscal year 2031.

Currently ranked fifth largest globally, India is forecast to rise to third place by the end of the decade, behind only United States and China. Unlike mature markets, India remains the fastest-growing among leading used-car economies. Structural advantages such as rising household incomes and a rapidly expanding car parc - expected to exceed 50 million vehicles by 2031 - ...