An estimated 8 million used cars to be sold in FY2027

Gurugram (Haryana) [India], October 17 (ANI/PRNewswire): The IBB Report 2022 suggests that the sales of used cars will exceed more than 8 million units by FY2027. IndianBlueBook (IBB) is a credible used car valuation company that has been in the business for years. Their reports regarding second-hand cars contain deep insight and useful information. Spinny, a crucial player in the second-hand car market, shares its thoughts regarding the estimation of used car sales by FY2027.
Here are a few observations that helped reach this estimate: -
Increasing Reliability
Due to the increasing reliability of second-hand car dealers, the industry has gained a lot of customers over the years. It has become easier for buyers to browse used cars and make confident purchase decisions. The trust between the buying and selling parties has become stronger due to the dependable platforms in the market.
Marketing of Reputed Platforms
The big names of the pre-owned car industry are carrying out excellent marketing campaigns to spread awareness about used car platforms. Spinny, one of the established players in the market, has marketed itself well and proven to be one of the best used car retail companies in India. Rightfully so, they have earned their place among the finest by making substantial impact since its foundation in 2015.
Quality Assurance
This is a vital aspect while buying or selling a car on these platforms. The quality check of both parties is necessary for the deal to go through professionally. This quality assurance also benefits people browsing to buy a car on one of these platforms. For example, if a customer searches '
' online, one will only get verified sellers in the first few search results.
Strict Verification
Phygital used car retailers are very particular about their verification process as they get numerous buyers and sellers from across the country. They have a stringent authentication process regarding the buyer, seller as well as the car. This helps minimise any risk of fraud or illegal activity. If one looks for
on a platform like Spinny, they will find that each and every car is inspected and certified. The seller has gone through a verification process as well. Moreover, if one decides to buy that car, they will also assess the risk of selling it to the customer by conducting a background check.
These are a few reasons why used car sales are projected to reach more than 8 million units in five fiscal years. The ever-growing market will prosper even more when every vehicle owner starts making better financial decisions.
The rising demand for used cars in India is constantly broadening the horizons of the pre-owned car industry. As a result, more and more players are entering the space, and the competition is rising.
Founded in 2015, Spinny is a used car retailing platform that aims to bring about transparency and convenience in buying and selling pre-owned cars. As a testimony of Spinny's commitment to transparency and quality, every vehicle on their platform comes with a 200-point inspection checklist, 5-day money-back guarantee, and 1-year after-sales warranty.
Spinny has about 36 car hubs operating across 22 cities in India. Last year, Indian cricket legend Sachin Tendulkar partnered with Spinny as a strategic investor and a lead brand ambassador. Sports icon, PV Sindhu, a believer & customer of Spinny, is also a part of a series of marketing initiatives focused on realising the aspirations of a billion car dreams.
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