As we closed the financial year 2024-25 on March 31, 2025, it's a fitting time to reflect on the performance and trajectory of India's pre-owned automotive industry. The insights from financial year 2024-25 reveal a dynamic, resilient, and rapidly evolving sector. This growth is underpinned by several factors: a burgeoning middle class seeking affordable mobility, the proliferation of digital marketplaces, and a post-pandemic preference for cost-effective and safer solutions. Companies like Shriram Automall have played an important role in fostering this trust, ensuring that pre-owned vehicles are not merely transactions but reliable assets for millions of Indian households and businesses.

Performance of Diverse Segments

The Indian new vehicle market exhibited steady performance in the financial year 2024-25, with growth seen across key segments. The year saw a 6.46% rise in vehicle retail sales, reaching 2,61,43,943 units, despite mixed liquidity and sentiment. As per media reports, new vehicle prices jumped 32% and used car ASPs nearly doubled, turning many budget-conscious buyers to pre-owned options. Passenger vehicle sales reached approximately 41.53 lakh units, marking a year-on-year increase of 4.87%, while the two-wheeler segment led the volume chart with around 1.89 crore units sold. The commercial vehicle sector recorded marginal softness, clocking 10.08 lakh units with a slight decline of 0.17% over the previous year. The three-wheeler category registered total sales of 12.21 lakh units, with electric variants contributing a significant 5.39 lakh units, reflecting the accelerating shift toward sustainable mobility. Farm Equipment sales, however, experienced a minor dip, recording a 1.04% decline year-on-year, indicating some pressure in rural demand.

Trends That Shaped Financial Year 2024-25

The pre-owned automotive industry has also evolved in character other than a mere growth in volume. Several trends have defined its trajectory this year:

• Emergence of pre-owned EVs: As per a report by Business Standard, EV sales in India grew by 26.5% in 2024, crossing 1.94 million units and raising EV penetration to 7.46% of total vehicle sales. While exact figures for used EVs aren't available, the rising stock of new EVs and growing consumer interest indicate strong momentum in the pre-owned EV segment.
• Rural and Semi Urban Expansion: The rural and semi-urban regions significantly propelled the growth of India's pre-owned vehicle market. According to SAMCO's Market Insights, Passenger vehicle sales in rural areas grew by 7.93%, surpassing the 3.07% growth observed in urban centres. Similarly, two-wheeler sales in rural markets increased by 8.39%, outpacing the 6.77% growth in cities. This surge is attributed to factors such as improved road infrastructure, rising income levels, and enhanced digital access, which collectively made pre-owned vehicles more accessible and appealing to consumers beyond metropolitan areas.
• Diverse Buyer Demographics: Women buyers have emerged as a significant force, supported by tailored financing options and user-friendly digital platforms. The average age of used car buyers is decreasing, with younger consumers showing increased interest in pre-owned vehicles.
• Technology Integration: In financial year 2024-25, technology continued to reshape the used vehicle ecosystem, making the buying and selling process more seamless, transparent, and customer-friendly. From AI-driven pricing tools and digital documentation to virtual vehicle inspections and app-based test drives, tech adoption surged across the value chain.

As the pre-owned automotive industry surges past new car sales, Shriram Automall has emerged as a pivotal force, driving accessibility, trust, and efficiency. With over 4.2 lakh auctions conducted and a customer base exceeding 26.45 lakh, its expansive network continues to shape the market. In financial year 2024-25 alone, the platform facilitated the sale of more than 23.5 lakh vehicles, including 7 lakhs plus two-wheelers, more than 4.85 lakh four-wheelers, and 6.40 lakh plus commercial vehicles. This dominance extends beyond transactions—Shriram Automall's 5000+ monthly online auctions and robust inspection and valuation services have reinforced buyer confidence. The breadth of our portfolio and the diversity of our offerings have enabled us to meet varied mobility needs while driving inclusive growth across sectors.

• Two-Wheelers (2W): Achieved sales of 7,00,000+ units, reinforcing our leadership in affordable and accessible personal mobility.
• Three-Wheelers (3W): Crossed 1,00,000+ units, driven by strong demand in last-mile delivery and rural connectivity.
• Four-Wheelers (4W): Recorded sales of 4,85,000+ units, highlighting our wide appeal among individual buyers and families.
• Construction Equipment & Earth Moving Equipment (CE & EME): Sold 71,000+ units, contributing significantly to infrastructure and development initiatives.
• Commercial Vehicles (CV): Achieved a milestone of 6,40,000+ units, strengthening our support for logistics, transportation, and small businesses.
• Farm Equipment (FE): Registered sales of 1,25,000+ units, underlining our deep engagement with the agricultural sector.
• Others: Delivered 2,35,000+ assets, showcasing our versatility and ability to serve diverse and evolving customer needs.

Adroit Auto, the whole-time subsidiary of SAMIL, successfully conducted over 6,00,000 vehicle inspections and more than 3,00,000 valuations—both record-breaking figures, and highest till now. Leveraging the power of its cutting-edge platform, CarTradeExchange, SAMIL conducted business of 1,06,246 assets, showcasing robust transaction volumes and the platform's growing influence in the used vehicle ecosystem. This year stands out as a testament to the company's tech-driven innovation and operational excellence.

India's Mobility Revolution Accelerates

India's pre-owned automotive industry has evolved into a mainstream choice, driven by affordability, trust, and digital innovation. With rising demand for used EVs, growing rural and semi-urban sales, and increasing participation of women buyers, the sector is set for continued expansion. Organized players like Shriram Automall are shaping a transparent, efficient marketplace, reinforcing buyer confidence.

India’s used car market outpaced new car sales in 2024 with a 1.3:1 ratio, highlighting a rising preference for affordable mobility. By 2030, this is projected to grow to 1.7:1, according to a Team-BHP report. While both markets are expanding, used car sales are set to soar from 4.6 million in 2023 to 10.8 million by 2030 at a 13% CAGR, compared to new car sales rising from 4.1 million to 6.3 million in the same period. Challenges such as supply chain bottlenecks and EV infrastructure gaps remain, yet opportunities abound. Government initiatives, including the vehicle scrappage policy and rural electrification efforts, are poised to catalyze growth in financial year 2025-26.

This has truly been a year of consolidation and progress; the road ahead promises even greater acceleration.