The Indian Blue Book (IBB) report by Car&Bike and Das WeltAuto (the used car division of Volkswagen) has underlined a significant uptake in used car sales in the country. As per the report, the sale of used cars is expected to reach 10.92 million units by FY2027-28 as the supply of good quality cars that were bought post the covid years starts to grow in the market. 

Valued at USD 31.33 billion in FY2022-23 as per the sixth edition of IBB report, the used car market in India is currently witnessing higher demand versus supply in response to the drastic slowdown in new car purchases in the Covid fiscal (FY2020-21).  

Expected to more than double to USD 70.48 billion in FY2027-28 as high-quality passenger vehicles bought in the years after the pandemic, the Indian used car market is in for a good show.

Roughly linked to a phenomenon where the slowdown in purchase of new cars leads to a surge in the demand for used cars, the arrival of passenger vehicles no more than 3.5 to five years of age, the used car market in India is expected to experience good momentum. It is also expected to see some formalisation, according to source, but grow nonetheless on the organised side as well as the unorganised side. The organised side of the used car market in the country is currently an estimated 35 percent. 

As owners of new cars purchased post the pandemic period decide to upgrade, the buyers of used cars are expected to get to choose from high-quality cars, albeit with records and a higher residual value. Budget buyers looking at quality pre-owned cars on the back of being more informed about car technicalities, the present situation points at an increasing availability of cars that are not just well maintained, but are also replete with a good safety kit among other attributes. An example of such an offering is the Volkswagen Taigun, which has managed to retain 80 percent of its residual value after three years unlike the models sold by the German automaker earlier.  

With the make, model and variant turning out to be a big consideration among 71 percent used car buyers, the tendency of buyers to inform themselves well is increasingly witnessed as per the BBI report. Stressing on the fact that majority of buyers are highly budget conscious (63 percent) even as they look for quality cars, the report highlights a pull towards used cars that offer a better safety kit and safety rating. The Volkswagen Taigun for example, is five-star GNCAP rated. 

The sixth edition of the BBI – walking the foot steps of the earlier edition – highlights the fact that 71 percent of the used car buyers also acknowledged overall repairs and servicing costs as a big consideration.

About 45 percent of buyers/intenders prefer local dealers for exploring, followed by auto tech start-ups (26 percent) and OEM backed brands (23 percent). In terms of awareness and preferences of car leasing, 28 percent of buyers were found to be aware of the concept. The indication, as per the report, is that 62 percent of used car buyers would avail of the same in the future.

In the case of used car buyers, warranty and financial assistance topped the list of demands as a service. A majority of them – 56 percent of them – did not prefer an EV used car.

From the vehicle seller’s perspective, 59 percent of them reasoned that they wanted to upgrade to a new vehicle as the reason to do away with their existing set of wheels. Some of them reasoned that it was the sufficiency of having another vehicle. The extra cars bought during Covid-19 period are being sold now, the sixth edition of BBI report highlights. 

What has been aiding the arrival of high-quality cars that were bought during the post pandemic period is being attributed to the fast tracking of auto technology. Automotive tech startups and OEM backed companies are ensuring that the actual Turn Around Time (TAT) to sell a car is down to three days! 

Full payment within 24 hours remains the top priority for sellers followed by vehicle inspection at a location of their choice.

“The pre-owned car market is significantly growing with the potential of it being double by FY2028. The growth primarily comes from the evolving trends and customer preferences while selecting a pre-owned vehicle. A notable shift is the top priority for safety features, a transition similar to the new car industry, enabling a brand like Volkswagen, to be more accessible and in-demand for customers with our 5-star GNCAP rated product portfolio – Taigun and Virtus. The high preference for safety features and standards among customers is positively impacting the residual value of Volkswagen cars, especially the Taigun. We are confident the Das WeltAuto. business, will continue to grow as one of the top certified pre-owned car brands in India for customers,” said Ashish Gupta, Brand Director, Volkswagen Passenger Cars India.

Ashutosh Pandey, CEO & MD, Mahindra First Choice, averred, “The latest edition of the Indian Blue Book, a collaboration with Das WeltAuto. by Volkswagen, reinforces our confidence in the Indian pre-owned car market's explosive growth potential. The increasing involvement of organized players is bringing stability and trust to this market; achieving consistent profitability and providing superlative customer experience remains the top priorities for organised players.” 

Mahindra First Choice Wheels-backed Indian Blue Book launched the first edition in 2015 to highlight the trends in the used car industry in India. Since then, the annual report has been established as the largest and most intensive primary research conducted in India. Since 2022 Das WeltAuto., the pre-owned car brand of Volkswagen, and Car&Bike, a 100 percent subsidiary of Mahindra First Choice Wheels, have co-curated this research report. 

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American electric vehicle maker Tesla has appointed Sharad Agarwal, former Chief Business Officer of Classic Legends, as its new business head, according to a report by Bloomberg.

The report further stated that Agarwal joined the EV maker a week ago and is tasked to drive sales for Tesla in India, which as per industry observers, has not performed as per the company’s expectations.

Agarwal, an automotive industry veteran, had begun his career with TVS Motor Co as Area Sales Manager in December 2002, before joining Mahindra First Choice Wheels as its Business Head for North and Eastern region in March 2007.

It was in January 2013, he moved to Audi India as the head of Sales, before taking over as the head of Lamborghini India in April 2016, where he spent almost 9 years, before joining Classic Legends.

During his tenure at Lamborghini, the Italian super luxury car maker saw its dealerships across India achieved a Return on Sales (RoS) of more than 10 percent, setting a new benchmark for the automotive business in the country. He also grew India’s ranking for the automaker as the third market globally in terms of PR visibility in 2021.

He also expanded Lamborghini India’s reach to over 60 cities, with sales volumes from Tier 2 and Tier 3 cities contributing more than 25 percent of the total.

Tesla, which formally started deliveries in September 2025 with its first dealership in Mumbai and the second facility in Delhi, has till date delivered 114 vehicles, of the estimated 600-plus bookings.

File photo for representational purposes only.

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Mumbai-headquartered business conglomerate Mahindra & Mahindra has announced its financial results for Q2 FY2026 with consolidated Revenue reaching INR 461 billion, marking a 22 percent YoY growth.

The consolidated Profit After Tax (PAT) stood at INR 36 billion, a 16 percent increase YoY. The company stated that, excluding specific one-time impacts, PAT growth was 28 percent YoY.

Mahindra’s Auto business reported sales of 262,000 vehicles, up 13 percent, which includes around 146,000 SUV sales. This translated to a revenue of INR 271 billion, up 25 percent YoY, while net profit came at INR 15 billion, up 8 percent YoY.

On the other hand, the farm sector reported its highest ever Q2 market share at 43 percent with sales of 123,000 units, up 32 percent YoY. The revenue came at INR 102 billion, up 25 percent, while consolidated net profit came at INR 11 billion, up 45 percent YoY.

Dr. Anish Shah, Group CEO & Managing Director, Mahindra & Mahindra, said, “We are pleased with the strong execution and solid performance delivered across the group in Q2 FY2026. Auto and Farm sustained their leadership with consistent gains in market share and profitability. TechM is progressing well on its transformation journey. MMFSL achieved a 45 percent PAT growth and remains committed to quality growth and digital transformation. Our Growth Gems are steadily advancing towards their ambitious goals, reinforcing our long-term value creation potential.”

Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), Mahindra & Mahindra, said, “Strong performance of our Auto and Farm businesses continues in Q2 FY2026 reinforcing our leadership position, with a gain of 390 bps YoY in SUV revenue share, and 100 bps YoY in LCV (< 3.5T) market share. In Tractors, we gained 50 bps YoY to reach 43 percent market share. Our Auto Standalone PBIT margin (excl. e-SUV Contract Mfg.) improved by 80 bps to 10.3 percent and core Tractor PBIT margins improved by 190 bps to 20.6 percent.”

Amarjyoti Barua, Group Chief Financial Officer, Mahindra & Mahindra, “Our solid Q2 consolidated results reflects the strength of our diversified portfolio. We continue to deliver on our strategic priorities. We had strong cash generation in the first half, delivering over INR 100 billion of operating cash flow. We remain committed to sustainable growth and value creation.”

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Hyundai Motor India Limited has globally launched the all-new Hyundai Venue and Hyundai Venue N Line, revising its popular compact SUV with prices starting INR 789,900 (ex-showroom).

The new Venue SUV is built on Hyundai’s Global K1 enhanced Platform. It has dimensions of 3,995 mm (Length), 1,800 mm (Width), 1,665 mm (Height) and a 2,520 mm Wheelbase.

The vehicle introduces the Connected Car Navigation Cockpit (ccNC) system, which NVIDIA accelerates. Technology includes Dual 62.5 cm (12.3-inch + 12.3-inch) curved panoramic displays and a 31.24 cm (12.3-inch) ccNC Navigation system. Up to 20 controllers are capable of Over-the-Air (OTA) vehicle updates.

Safety features include 6 airbags and Hyundai SmartSense ADAS Level 2 with 16 features. It is available with three powertrain options: Kappa 1.2-litre MPi petrol (5-speed manual transmission), Kappa 1.0-litre Turbo GDi petrol (6-speed manual or 7-speed DCT transmission) and U2 1.5-litre CRDi Diesel (6-speed manual or 6-speed automatic transmission).

The N Line is available in two variants, N6 (MT/DCT) and N10 (DCT). It is powered by the Kappa 1.0-litre Turbo GDi petrol engine. This engine delivers 88.3 kW (120 PS) and 172 Nm of maximum torque. Transmission options are a 6-speed manual or a 7-speed DCT. The vehicle includes paddle shifters, traction control modes and drive mode select. Technology features include the 31.24 cm (12.3-inch) ccNC Navigation system accelerated by NVIDIA, and up to 20 vehicle controllers capable of over-the-air (C-OTA) updates. For safety, the N Line is equipped with ADAS Level 2 with 21 features and over 70 advanced safety features. It features disc brakes on both the front and rear axles.

Unsoo Kim, Managing Director, Hyundai Motor India Limited, discussed the company's deep commitment to the Indian market, confirming an investment of over INR 450 billion. He noted that the all-new Hyundai Venue is the first product from the new Pune manufacturing plant and the first of 26 products planned by 2030.

"At HMIL, our commitment to India runs deep. We have recently announced an investment of over INR 450 billion, reaffirming our long-term vision for this vibrant market. The all-new Hyundai Venue marks the beginning of an exciting new chapter and it is the first product to roll out from our state-of-the-art Pune manufacturing plant and the first among the 26 products we plan to introduce by 2030. The launch of the all-new Hyundai Venue and Hyundai Venue N Line represents a significant milestone in our journey of automotive excellence," said Kim.

Tarun Garg, Whole-Time Director & COO, Hyundai Motor India, highlighted the Venue's strong market presence, with over 700,000 units sold and a consistent top-three position among compact SUVs in India. He confirmed that the all-new Hyundai Venue will be manufactured exclusively in India for global markets, supporting the 'Make in India for the World' vision.

"Since its debut in 2019, the Hyundai Venue has been one of the most successful nameplates in our SUV lineup, with over 700,000 units sold and a consistent position among the top three compact SUVs in India. Venue has played a pivotal role in strengthening Hyundai's SUV leadership and shaping our identity as a progressive and customer-centric brand. Preferred by young, aspirational working professionals who seek performance, Hyundai Venue has become a symbol of dynamic urban mobility and spirited individuality. With the launch of the all-new Hyundai Venue and Venue N Line, we are taking this success story to the next level. The new Hyundai Venue embodies disruptive design, advanced technology, superior safety and exhilarating performance, setting new benchmarks in the compact SUV segment. It also marks a proud moment for Hyundai Motor India, as the all-new Hyundai Venue will now be exclusively manufactured in India for global markets a true testament to the 'Make in India for the World' vision and the growing role of HMIL in Hyundai Motor Company's global strategy," said Garg.

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French automotive major Renault Group and Chinese automaker Geely have executed agreements to extend their strategic cooperation, focusing on the production and sales of zero and low-emission vehicles by Renault do Brasil for both the Renault and Geely Auto brands in the country.

As part of the agreements, Geely has acquired 26.4 percent stake in Renault do Brasil. Renault Group will remain the majority shareholder and continue to consolidate the entity in its accounts. As a minority shareholder, Geely gains access to the Brazilian industrial and commercial resources, which should accelerate its expansion in the region.

Renault do Brasil will produce Geely Auto-branded vehicles alongside Renault vehicles at the Ayrton Senna plant in Sao Jose dos Pinhais, Parana. This joint production is expected to increase output and sharpen the industrial complex's competitiveness.

Renault will utilise Geely's GEA new energy architecture to expand its zero and low-emission vehicle line-up for the Brazilian market.

Renault do Brasil will distribute Geely Auto's portfolio of zero and low-emission vehicles in Brazil, including the Geely EX5 electric SUV, opening up new growth opportunities in sales, financing, and services.

Francois Provost, CEO, Renault Group, said, “The partnership we are announcing today with Geely in Brazil marks a decisive step forward in our international strategy. It establishes an agile cooperation founded on industrial excellence and technological leadership. Once again, combining our strengths will make us more competitive, more innovative and more responsive in a fast-evolving automotive market.”

Eric Li, Chairman, Geely Holding Group, said, “Our continued cooperation with Renault in exploring new markets and new opportunities will make for a win-win scenario as both Renault and Geely are able to leverage technology scales on a global level to bring the best products to market.”

The cooperation aims to enhance both companies' presence in Brazil, a market that accounts for over 40 percent of vehicle registrations in Latin America in H1 2025. The two groups have previously collaborated on projects including joint investment into Renault Korea and the creation of Horse Powertrain.

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