SUV sales surge in India’s preowned car market

The preowned SUV market has seen a dramatic rise in popularity, recording a 40% increase in sales in the first quarter of 2024, according to a Cars24 report.

This surge is most pronounced in non-metro areas, indicating a significant shift towards larger, more luxurious vehicles across India.

In particular, consumers in Tier II and Tier III cities are showing a strong preference for SUVs, underscoring a broader trend towards premium vehicles that combine comfort with robust performance. The report also noted a 30% increase in sales of automatic cars in these regions, reflecting a growing inclination towards more convenient and feature-rich automobiles.

These trends are not only reshaping consumer preferences but also highlighting the enduring appeal of the preowned car market, where many buyers are likely to return. As India’s automobile sector continues to expand, now ranking as the third largest globally, the shift towards SUVs and automatic vehicles signals evolving consumer expectations and market dynamics.