Cars in India: The number of cars running on the roads of india will surprise you! This big revelation came in the report

For used cars in india, there are OEMs like maruti Suzuki True Value, mahindra First Choice, hyundai Promise, and honda Auto Terrace as well as auto-tech players like Cars24, OLX india, and Spinny.

Cars on indian Roads

 According to Cars24, an online website selling used cars, about 30 million passenger vehicles are running on indian roads. Whereas it does not include Uber, Ola, or taxis. These are only vehicles with white number plates.

According to the news, Cars24 has collected this data from SIAM (Society of indian Automobile Manufacturers). Which shares data of new vehicles sold every month. According to Ruchit Aggarwal, co-founder and CFO of Cars24, to collect this data we went back 15 years (the average life of vehicle registrations in India) and combined the data. Then we reached this number, which is a little more than 30 million units. However, a variation of 1-2 million may be seen in this figure.

According to data, out of these 30 million, about 4.5 million used cars were sold in the car market in FY 2023. Whereas less than one million cars were sold in the organized market.

Aggarwal said that this reveals two things. One, the average life of a car in india is 6-7 years. Second, organized players like us have very good prospects in this sector.

For used cars in india, there are OEMs like maruti Suzuki True Value, mahindra First Choice, hyundai Promise, and honda Auto Terrace as well as auto-tech players like Cars24, OLX india, and Spinny.

According to Aggarwal, the used car market is presenting interesting data points. According to this, the market share that car manufacturers had in terms of sales of new cars 6-7 years ago is today their current share in used cars. And the car body size which was popular in new cars 6-7 years ago, is currently popular in used cars.