Average selling price of used cars falls first time in five years: Report

Change in emission norms dragged impacted demand, leading to price drop

Topics
Used car market | Motorbikes | Luxury car sales

Shally Seth Mohile  |  Mumbai 

The average selling price (ASP) of used cars and scooters dropped in 2020 from a year ago even as prices for motorbikes and luxury cars rose during the period, according to Droom’s Automobile Trend Report for pre-owned vehicles. Based on a sample of over 1.1 billion visitors, 20,000 auto dealers in 1,086 cities and three million listings, the report shows that ASP of used cars in the mass segment fell to Rs 8,38,827 from Rs 9,16,831 in 2019.

This is first fall in ASP of cars since 2015. Fuelled by the demand for used cars, prices had been rising steadily year-on-year the past ...

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First Published: Fri, February 19 2021. 18:27 IST