Refurbished phones hit 26% share as price hikes push Indians to second-hand cars and devices
Refurbished smartphones reached 26% of India sales Jan-May, up from 23% a year ago, while used car volumes grew 9% to 6.1M units in FY26 against 8% growth for new cars. Cars24 and Lava flag affordability gaps as phone prices rose 30-35% on average and autos 5%.
What happened
Cars24 · Steep smartphone and car price hikes are pushing Indian buyers to second-hand markets. Refurbished phones hit 26% of sales Jan-May; used cars grew 9%
Key facts
- 26% refurbished share Jan-May
- 23% prior year
- 6.1M used cars FY26
- 5.6M FY25
- 9% used car growth
- 4.64M new cars
- 8% new car growth
- 30-35% avg phone price hike
- up to 70% peak hike
- 12% used phone market growth
- -11% new handset decline
- 190M units 2026 forecast
- 5% avg auto price hike
- 66% metro share
Why this matters
Scout bolt-on acquisitions of refurb-phone certifiers and regional used-car platforms before OEMs lock up exclusive trade-in pipelines and close the arbitrage window.