BMW Remains The Most Popular Pre-Owned Luxury Car Brand: Olx Autos

Global marketplace for pre-owned cars, OLX Autos has reported a sharp increase in both the supply and demand of luxury cars on its platform in the first half of the year 2022. The pre-owned car market is growing faster (15 per cent) than the new car market (10 per cent) in terms of CAGR, with used car volumes poised to become 1.5x more than the new car market by FY ‘26, as per a study by Olx Autos and CRISIL. 

In order to arrive at the findings, Olx Autos analysed over approx. 50,000 listings (ads on the Olx platform posted by users) of the luxury and ultra luxury car brands on its platform across more than 50 - Tier 1 (Bengaluru, Chennai, Delhi NCR, Hyderabad, Mumbai, Kolkata, Pune and Ahmedabad) and Tier 2 cities (Agra, Amritsar, Chandigarh, Coimbatore, Indore, Jaipur, Kochi, Kozhikode to name a few) in India. 

The brands that are most popular on Olx include Audi, Mercedes Benz, BMW, Porsche and Jaguar. The analysis was undertaken for the first  6 months of January - June, 2021 and 2022.

Supply Growth for Luxury Cars in Tier 2 cities, exceeds that of Tier I cities (Year on Year basis) 

The supply of luxury cars across Tier 1 cities recorded a growth of 40 per cent on Olx Autos, while Tier 2 registered a growth of 45 per cent in H1 2022, compared to the same period of the previous year (H1 2021). 

Supply Growth in Tier I cities was led by Jaguar by 86 per cent, Porsche by 85.5 per cent, Mercedes Benz by 40 per cent , Audi by 38 per cent and BMW by 34 per cent, whereas in Tier II cities supply growth was led by Porsche at 138 per cent followed by Jaguar with 47 per cent, Mercedes Benz by 46 per cent, Audi by 44 per cent and BMW by 38 per cent. 

In terms of overall volume across Tier 1 and Tier 2 cities, BMW continues to be in demand, and is the most popular pre-owned luxury car brand, followed by Mercedes Benz, Audi, Jaguar and Porsche. 

Price Increase for Pre-owned luxury cars  in Tier 1 cities outpaced the same in Tier 2 cities