The changing demography in India is evident by changing taste of its youth. While, there is no doubting a fact that the country is currently, the leading consumer industry globally, the bulk of this consumerization is being diverted towards automobiles, gold and real estate. Nonetheless, the cost of real estate has meant that it is no longer an affordable option. At the same time, the deviation in commodity market has resulted in shattered consumer confidence. Thus, automobile industry stands out in terms of preference, affordability, predictability, etc. Having said this, here are 5 reasons that have boosted used car market in India –

• Troublesome public transportation – The public transportation in cities like Mumbai is crumbling under the pressure of rising population. People here have to go through lots of hardships travelling through local trains or public buses both in morning as well as evening. Secondly, the rising accident in railways is pushing people more towards viable modes of transportation like cars. Since, buying a new car proves costly people opt for used cars in Mumbai