<ul><li>Affordability is becoming a major hurdle for new car buyers due to the nearly doubled average cost of new vehicles over the past decade.</li><li>The used car segment is growing at 10–12% annually, appealing due to affordability, flexibility, and wider access to financing.</li><li>Affordability remains a primary decision factor, with vehicles priced under ₹5 lakh dominating demand, especially among first-time buyers.</li><li>India's used car market is projected to reach $40 billion by FY26, with affordable hatchbacks and compact SUVs being popular choices, driven by younger cars entering the resale market and improved credit accessibility.</li></ul>

Used cars on speed track as new car buyers stall on affordability

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