Delhi’s Used Car Market Crashes—EOL Ban Triggers 50% Price Plunge, Traders Panic

Second-hand car prices in Delhi have nosedived by 40–50% in just five days, following the enforcement of End-of-Life (EOL) vehicle restrictions from July 1, as per the Chamber of Trade and Industry (CTI). The new rules prohibit fuel supply to diesel vehicles older than 10 years and petrol vehicles older than 15 years, rendering nearly 60 lakh vehicles ineligible for road use.

 

CTI Chairman Brijesh Goyal revealed that traders are being forced to sell vehicles at one-fourth of their original value, with luxury used cars that once fetched ₹6–7 lakh now struggling to sell for ₹4–5 lakh. The usual resale markets in Punjab, Rajasthan, UP, Bihar, Tamil Nadu, Karnataka, and Kerala are also bargaining aggressively, aware of Delhi’s regulatory squeeze.

 

Adding to the chaos, dealers are facing delays in obtaining No Objection Certificates (NOCs) from the Transport Department, making interstate transfers difficult. While the Delhi government has requested a temporary hold on the fuel ban, citing technological challenges, uncertainty looms large for over 1,000 second-hand car dealers across the capital.

 

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Source: ET Auto