Can’t buy that new SUV? So what! Make do with a used one

It seems that second hand dealers would soon be raking in the moolah! Following the Supreme Court’s ban on diesel cars in Delhi, used cars have witnessed a sudden surge in demand in the Delhi-NCR region.

According to the data compiled by Car Dekho, an online auto marketplace, enquiries for diesel cars from major brands such as Mahindra, Ford and General Motors rose tremendously in the secondhand car market. But this trend is not restricted to mass brands only. Interestingly, the numbers reveal that the luxury segment too saw a whopping increase of nearly 200% in the used cars category.

While German luxury auto majors such as Audi and BMW are probably some of the worst hit in the new car category due to the ban, in the used car segment, these brands are majorly in demand.

The survey revealed that Audi’s Q7, BMW’s 7 series have recorded a whopping 167% and 150% increase in their demand respectively in the second-hand segment. On the other hand, old-man’s car, Mercedes’A, E and GL Class, only saw a 75%, 68% and 67% increase in their demand respectively.

In the mass market, while brands such as Hyundai, Tata Motors, Toyota, Mahindra were adversely affected by the ban, there has been surge in the demand for their popular SUV models in the second hand market. Mahindra’s Ssangyong Rexton saw a 13% increase in its demand while Scorpio and XUV 500 recorded a 32% and 17% increase in their demand in the used car market. Toyota’s Fortuner while saw 66% decline in demand in the new car, it registered a 55% rise in its demand in the second hand car market.

Overall, there was a 27% decline in new car leads for diesel SUV segment while used car leads for these models increased by 17% simultaneously. The SC’s order to ban big diesel cars in the city in order to curb air pollution has dented these top auto majors.

“We foresee that the demand for used cars in this segment could see a further increase if the ban continues for a longer duration,” said the report.

Image Credit: Indiatimes.com