Driving Towards Consumer Rights: Unveiling The Dynamics Of India's Pre-Owned Car Market
- IJLLR Journal
- Feb 20
- 1 min read
Piyush Kumarendra, Research Scholar, Dr. Ram Manohar Lohiya National Law University
ABSTRACT
The automobile industry in India is among the fastest-growing sectors in the country. In recent years, the sale and purchase of pre-owned vehicles have emerged as a thriving business model. Owning a vehicle has become essential in today’s busy lifestyle, not only as a status symbol but also as a means of ensuring safety, convenience, and style. During the COVID-19 pandemic, personal vehicle ownership became even more critical for safety and social distancing. The pre-owned vehicle market has experienced remarkable growth due to factors like the rising costs of new vehicles, increased registration and insurance charges, and the availability of attractive financing options. Both organized and unorganized retailers have entered this market, achieving significant sales and profits over time.
Consumers are increasingly drawn to pre-owned vehicles due to financial advantages, wider vehicle options, and the expansion of organized and online retailers. While the market is saturated with new cars offering appealing deals, affordability remains a key factor driving demand for pre-owned vehicles. This study aims to explore the reasons behind this growing preference.
Keywords: Pre-Owned Vehicles, Used Car Market, Enforcement of Consumer Rights, Consumer Protection Act, Dispute Resolution Mechanisms
