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%.
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% to 6.1M units in FY26. Cars24, Lava cite affordability gap and tighter consumer financing.