Used Car

Value picks: Used car financing is now outselling new car loans

With many more consumers opting to buy second-hand cars, given how prices of new cars have shot up, banks are now focusing more on used car financing. Indeed, at a time when the demand for new car loans has flagged, credit for used cars is growing at perky 15-18%, according to bankers. CarDekho.com puts the pace of growth at an ... Read More »

China’s used-car marketplace Uxin to raise $230M via convertible notes

Uxin,  a Chinese second-hand car dealer with Leonardo DiCaprio as its latest brand ambassador, is tipped to get a bag of new funding less than a year after it raised $225 million from its public offering on the Nasdaq. The company announced on Wednesday that it’s selling $230 million worth of convertible notes to 58.com  — China’s answer to Craigslist, Warburg Pincus, TPG and other investors. ... Read More »

This Chinese Used Car Marketplace is Making all the Right Noises

One may have a second thought before purchasing a used car, but millennials in China are slowly changing this attitude towards owning one. A research firm recently published a report stating that the supply of used cars in China will increase as the market matures and the cost benefits will start to stand out more. And reaping full benefit is ... Read More »

Used-cars market shines bright as sales hit 4 million mark in FY19

As automakers continue to report plummeting April sales numbers, the factors triggering a slowdown in the new-cars market don’t seem to be weighing on the used-cars market. Used-cars sales crossed the 4 million unit mark in FY19, with it being 1.2x the size of the new car market. It is also poised to reach between 6.7 to 7.2 million cars ... Read More »

Used Car Marketplace Spinny Raises $13.2 Mn In Series A Round

Gurugram-based used car marketplace Spinny has raised $13.2 Mn in Series A funding round led by Accel and SAIF Partners. Existing investors such as Blume Ventures and Simile Ventures had also participated in the round. Raghunandan G (cofounder and former CEO Taxi For Sure) and Haresh Chawla (partner at True North PE firm) also joined the round in their personal ... Read More »

Accel, SAIF, Alteria invest in used car retailer Spinny

New Delhi: Used car online retailing platform Spinny has raised $13.2 million led by marquee early stage investors Accel Partners and SAIF Partners in a Series A round, the company said on late Tuesday evening in a statement. Its existing investors- Blume Ventures and Similie Ventures also participated. Further, it has also raised ₹20 crore in venture debt from Alteria Capital, which provides loans ... Read More »

Why the second-hand car market is seeing a boom

Even as new car sales have slowed down in the recent past, the pre-owned car market has continued to grow over the past year and is larger than the new car market now. Consider this: In 2018-19, while new car sales were recorded at 3.6 million units, 4 million second-hand cars were bought and sold, according to a recent report ... Read More »

You will love these fresh and healthy summer recipes

Apart from the heat, summers also make you feel dull and tired which is why eating healthy and having fluids is extremely important during summer. But how about ditching colas and canned juices and opting for something extremely healthy and filling? To help you make healthy choices this season, we have curated a list of recipes from the book The Eat ... Read More »

Used car market size can be ₹50, 000 crore by 2022: Mahindra First Choice

The size of India’s pre-owned or second-hand car market could be between 6.7 million units and 7.2 million units by 2022, with the value of the segment pegged at ₹50,000 crore, according to a sector outlook released by Mahindra First Choice Wheels Ltd, the pre-used car business of Mahindra and Mahindra Ltd. According to the report, the share of organized retail ... Read More »

Truebil bets big on used-car market growth, looks to grow 5x this year

Mumbaikars do not like black cars, but those, especially burly SUVs, sell like hot cakes in Delhi. Likewise, cars from South Mumbai find few takers, thanks to multiple stories about rust eating into the vehicles because of the area’s close proximity to the sea. These are few of the crucial analytical tools used by online marketplace Truebil.com, which sells used ... Read More »