July 14, 2012: According to Industry experts, the used car market will grow by 10 to 11% this financial year as compared to 3-4% last year. However, the segment still faces many challenges like financing, where interest rates are still high. The user care market in India is now as big as new car segment. This is expected to go up when the size of the organized market in user car segment increases. Maruti and Mahindra have been doing well in this organized user car market and both have aggressive plans to tap this market further in India.
