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Prices of second-hand cars have fallen by 50% from fuel ban on old vehicles in Delhi. CTI chairman Brijesh Goyal said that 6 million vehicles will be affected by the EOF ban. Will be applicable from November 2025.
Resell value decreased
Due to the age of 10 years of diesel vehicles in Delhi NCR and the age of petrol vehicles to 15 years, the resail value for a car selling is almost negligible, and on the other hand, car dealers are being forced to sell them at low prices. The Chamber of Trade and Industry (CTI) has revealed that there is chaos in the second-hand car market as about 60 lakh vehicles are being affected by the end-off-lif (EOF) ban, which will be applicable from November 1, 2025.
Some people may say that this may be the best time to buy a second-hand car, and this is true. Speaking to PTI, Chamber of Trade and Industry (CTI) Chairman Brijesh Goyal said that the prices of second-hand cars are falling at the rates before before the EOF ban on vehicles. He said that since the campaign against old vehicles started, the prices of second-hand cars have fallen from 40% to 50%. This can be a temporary relief for the residents of Delhi, but they will have to face challenges again as soon as November.
One quarter price
Goyal said, “Delhi traders are now forced to sell vehicles at one-fourth of their price. The luxury second-hand cars were sold for 6 lakh to 7 lakh rupees earlier, they are now barely sold for 4 lakh to 5 lakh rupees. Buyers of other states are borgane accordingly. This can be a good time to sell your old vehicle and see Value for Money in the second-hand car market.