How India’s budget can keep India’s used car market humming along

India’s pre-owned car segment continues to thrive while auto companies around the world struggle. “There are several significant growth driving factors like the urge for personal mobility due to the ongoing pandemic and global semiconductor chip shortage resulting in longer waiting periods for new cars,” Amit Kumar, CEO of OLX Autos India, an online marketplace for pre-owned vehicles, told Quartz in an interaction. Explaining how the pandemic has boosted demand for used cars, Kumar said he expects the right kind of tax policy in the upcoming budget on Feb. 1 to help the sector shape up for the better.