Increased demand for second hand cars as a result of shortage of semiconductors

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MUMBAI: The shortage of semiconductors has affected car production, with those looking to buy a vehicle having to wait a long time for car delivery, which has led to a sharp rise in demand for second-hand or used cars.

As demand grows, so do the prices of used cars, which have seen a 5 to 10 per cent increase.

"Sales of cars on our platform have skyrocketed in the first five months of the current financial year," said an organized player. Online sales have now surpassed આંક 150 million, up from ૩ 150 million in April. At the beginning of the current financial year, the number of used car sales has gone up from 200 to 10,000, he said.

From the fourth quarter of FY2021, car sales of well-known models have increased by 3 to 4 per cent in the second quarter of the current financial year.

Comments

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