Second hand cars became 50% cheaper in Delhi, will not get such an opportunity again

Second hand cars became 50% cheaper in Delhi

Due to the restrictions on old petrol and diesel vehicles in Delhi, the prices of second hand cars are seeing a huge decline. The Industries Organization Chamber of Trade and Industry (CTI) has informed that the prices of old cars have fallen by 40 to 50 percent in the last few days. CTI chairman Brijesh Goyal says that the sale of old vehicles has been affected due to Delhi government rules and court orders. He informed that about 60 lakh old vehicles in the capital have been affected by these restrictions.

Is temporarily postponed

The ban on older vehicles implemented in Delhi from July 1 has been temporarily postponed. This decision has been taken by the Air Quality Management Commission (CAQM) after the letter of Environment Minister. However, this relief is only for the moment, as the action of ban on End of Life (EOL) vehicles is still not completely over. Even after this decision, there is confusion about the future of the seized vehicles. The government has given some relief, but the situation is still not clear for the old vehicle owners and businessmen.

Second hand cars became 50% cheaper

Petrol vehicles are not allowed to run 15 years and diesel vehicles 10 years old under the rules in Delhi. After the court order, the Delhi government also banned fuel to these old vehicles. In such a situation, these vehicles cannot hit the roads from July 1. However, when traders and common people opposed it, the government has appealed to the Air Quality Management Commission (CAQM) to remove these restrictions.

Despite this, businessmen are still upset. Goyal, a vehicle businessman himself, says that now he has to sell his old cars at one-fourth price. For example, the luxury second hand cars were sold for 6-7 lakhs earlier, now they are barely sold for 4-5 lakh rupees.

Traders have to bear huge losses

The old trains of Delhi are usually sold in states like Punjab, Uttar Pradesh, Rajasthan, Bihar, Tamil Nadu, Karnataka and Kerala. But now buyers of other states are also negotiating because they know the situation in Delhi. Goyal also said that more than 1000 businessmen in areas like Karol Bagh, Preet Vihar, Pitampura and Moti Nagar are related to the business of second hand vehicles. Now these traders have to bear a huge loss.

Difficulty in taking NOC

Apart from this, traders are also facing difficulties in taking No Objection Certificate (NOC). This certificate is necessary when old trains from Delhi have to be transferred to another state. Earlier this process was easy, but now it has increased delays and technical bottlenecks, overall, the restrictions on old vehicles have put Delhi's second hand car market in serious crisis. Businessmen are expecting relief from the government so that they can get some relief from the damage done.