Analysis of over 11,000 transactions across nine cities highlights rise of first-time car ownership, rising financing adoption, changing consumer aspirations, and emerging EV resale challengesKey Findings from the Mobility Intelligence Report 2026Ownership & Market Growth-  80–82% of used-car buyers are first-time car owners-  India’s used-car market is 1.39x larger than the new-car market-  The used-car market is growing at 11–13% annually-  The organised used-car segment is growing at over 20% annuallyFinancing & Affordability-  Used-car financing penetration has doubled from 16% to 32% over the past five years-  Nearly 60% of transactions on organised platforms are financedConsumer Preferences-  SUVs continue to lead aspiration-driven demand across segments-  Automatic vehicles account for 37% of transactions, reflecting growing preference for convenience and urban drivabilityOwnership Economics-  One-year-old vehicles depreciate by 21% on average-  Three-year-old vehicles depreciate by 33% on average-  Five-year-old vehicles depreciate by 41% on average while retaining nearly 60% of their original valueFuture of Mobility-  EV resale remains one of the most significant emerging challenges in India’s mobility ecosystem due to evolving technology, battery-health concerns and limited residual-value benchmarksNEW DELHI, June 29, 2026 /PRNewswire/ — Autocar India and Spinny today unveiled the Mobility Intelligence Report 2026, a comprehensive study of India’s evolving used-car ecosystem based on an analysis of more than 11,000 vehicle transactions across nine cities. Combining transaction-led insights with broader market trends, the report offers a detailed view of how changing consumer aspirations, ownership patterns, financing adoption, and vehicle preferences are reshaping India’s mobility landscape.
The findings highlight the growing importance of the used-car market in expanding access to personal mobility. According to the report, 80–82% of used-car buyers are first-time car owners, underscoring the category’s role as the primary gateway to vehicle ownership for millions of Indians.The report comes at a time when India’s used-car market is estimated to be 1.39 times the size of the new-car market, with annual growth of 11–13%. Within this, the organised segment continues to gain share, expanding at more than 20% annually, driven by increasing trust, transparency, and convenience.Commenting on the report, Hormazd Sorabjee, Editor, Autocar India, said:”The used-car market today offers one of the clearest windows into how mobility preferences are evolving in India. What makes this report particularly valuable is the breadth of consumer and transaction-led insights it brings together—from ownership trends and financing behaviour to changing vehicle preferences and value retention. As the market continues to mature, such data becomes increasingly important for consumers, manufacturers, financiers and the broader automotive ecosystem.”Used Cars Become a Vehicle for AspirationThe report finds that the used-car market is increasingly being driven by aspiration rather than affordability alone. Instead of purchasing entry-level new vehicles, many consumers are opting for larger, better-equipped used vehicles within the same budget.This shift is most visible in the growing popularity of SUVs, which continue to dominate demand across urban markets. Consumers are increasingly prioritising features, safety, comfort and vehicle size, viewing used cars as an opportunity to upgrade their ownership experience without significantly increasing expenditure.Financing Accelerates Market FormalisationFinancing has emerged as one of the strongest enablers of growth in the used-car ecosystem.According to the report, used-car financing penetration has doubled from approximately 16% to 32% over the past five years, reflecting increasing lender confidence and improving consumer trust in the category. On organised platforms such as Spinny, financed purchases now account for nearly 60% of all transactions.The findings suggest that easier access to financing is helping expand the addressable market while enabling consumers to purchase higher-value vehicles and accelerate ownership decisions.Ownership Economics Influence Buying DecisionsThe report also highlights a growing awareness among consumers regarding vehicle ownership economics and resale value.Analysis shows that a one-year-old vehicle depreciates by an average of 21%, while depreciation reaches 33% after three years and 41% after five years. Despite this, a five-year-old vehicle retains nearly 60% of its original value, reinforcing the importance of value retention in purchase decisions.Notably, the average selling price of a three-year-old vehicle in the study stood at ₹8.38 lakh, roughly comparable to the average price of a new car in India in 2020. This reflects how used vehicles are increasingly enabling consumers to access more premium segments without bearing the steepest years of depreciation.Convenience-Led Mobility Continues to RiseChanging urban lifestyles are also influencing vehicle preferences.Automatic vehicles now account for 37% of transactions analysed in the report, signalling a continued shift toward convenience-led mobility, particularly in densely populated urban centres where traffic congestion remains a key factor influencing consumer choice.The study also found that brands such as Maruti Suzuki, Hyundai, Kia and Mahindra continue to demonstrate strong value retention across categories. Among individual models, the Maruti S-Presso, Hyundai Grand i10 Nios, Maruti Baleno, Maruti Dzire, Hyundai Verna, Tata Punch, Hyundai Venue, Kia Seltos, Mahindra XUV700 and Maruti Ertiga emerged among the strongest performers in retaining value over time.EV Resale Emerges as the Next Industry ChallengeWhile the report highlights growing consumer interest in electric mobility, it also identifies EV resale as one of the most significant emerging challenges for the automotive ecosystem.Unlike internal-combustion vehicles, electric vehicles currently lack predictable resale benchmarks due to rapid technological evolution, concerns around battery health and changing consumer expectations. The report suggests that improving transparency around battery performance, battery health assessment and residual value benchmarks will be critical to supporting the next phase of EV adoption in India.Commenting on the findings, Niraj Singh, Founder and CEO, Spinny, said:”India’s used-car market is undergoing a structural transformation. What was once viewed primarily as a value-driven purchase is increasingly becoming a pathway to first-time ownership, aspirational upgrades and smarter financial decision-making. The findings of the Mobility Intelligence Report 2026 reflect a market that is becoming more organised, more trusted and more accessible. With evolving consumer expectations and aspirations, we believe the used-car ecosystem will play an even greater role in shaping the future of mobility in India.”

View original content:https://www.prnewswire.com/in/news-releases/autocar-india-and-spinny-unveil-mobility-intelligence-report-2026-revealing-the-forces-reshaping-indias-used-car-ecosystem-302813178.html

NEW DELHI and SINGAPORE, June 29, 2026 /PRNewswire/ — Apricity Publishing has announced the Indian release of the international personal finance bestseller, CLIFF: A Money Mindset for Longer Lives and Shorter Careers. Authored by prominent corporate executive and global strategist Prashant Agarwal, the book moves away from complex spreadsheets and dense jargon to deliver a refreshing, behavior-driven framework that enables everyday professionals to take control of their financial destinies.

Featuring exclusive illustrations by world-renowned Marketoonist cartoonist Tom Fishburne – whose work regularly appears in The Wall Street Journal, The New York Times, and Fast Company – CLIFF seamlessly combines sharp visual storytelling with real-world financial strategies.The Broken Three-Stage LifeAdvances in medicine and technology mean a 100-year life is becoming the norm, with current generations expected to outlive their grandparents by 10 to 15 years. However, this increased lifespan arrives alongside rapid AI and technological disruptions that make corporate careers shorter and highly unpredictable. The traditional three-stage life model – Education, Stable Employment, and Financial Security in Retirement – stands broken.”While previous generations could expect a linear career and retire with predictable pensions, today’s professionals face multiple career transitions, unexpected pauses, and sudden reinventions,” says author Prashant Agarwal. “Worse, financial literacy remains abysmally low; barely one in three people globally possess a basic understanding of compounding and money mechanics. Employees report losing more than seven hours a week worrying about their financial future. This creates a unique paradox: if you aren’t prepared, living longer can financially kill you.”Rather than preaching the extreme austerity of the FIRE (Financial Independence, Retire Early) movement, CLIFF introduces a realistic alternative: Comfortable Living In Financial Flexibility. Drawing on Agarwal’s 25 years experience operating at the intersection of global financial services and human behavior, the book outlines a practical, six-step methodology to transition from uninformed anxiety to informed control.Industry AcclaimThe book has earned strong endorsements from top global economists, financial journalists, and corporate leaders:”A new fundamental reality stares at us – longer lives and shorter careers. CLIFF explains deep questions simply. In an accessible way, it lays out ways to achieve financial flexibility.”— Neelkanth Mishra, Chief Economist, Axis Bank & Part-time Chairman, UIDAI”Prashant provides the background to understand your reality. He then helps you create a map to bulletproof your financial life to ensure your golden years remain golden.”— Geoffrey Rogow, The Wall Street JournalAdditional praise has poured in from senior executives across the AIA Group, IDFC First Bank, Manulife, and FWD, hailing the book’s power to replace overwhelming financial complexity with consistent behavioral habits.Beyond the Pages: Interactive Corporate WorkshopsTo take this crucial conversation directly into workplaces and communities, Apricity is curating high-impact interactive workshops tailored for organizations navigating the future of work:The AI Ambush: Money Readiness for Shorter, Unstable Careers: A session exploring how individuals can prepare financially for AI-driven disruptions, sudden pivots, and shifting professional landscapes.The Longevity Paradox: Architecting the Financial Future for a 100-Year Life: A deep dive into building sustainable wealth habits designed to comfortably fund a century-long life.Participants in these corporate sessions will receive exclusive access to the proprietary CLIFF Compass Assessment, a diagnostic tool that uncovers an individual’s personal money archetype (such as the Consistent Compounder or the Worrier Warrior) and provides a personalized blueprint to build immediate financial flexibility.Nidhi Mishra, Publisher, Apricity India, commented:”Though money impacts each one of us, talking about its management is ironically often viewed as an intellectual activity reserved for a select few. In CLIFF, Prashant brilliantly blends sharp cartoons, practical exercises, and actionable insights to empower readers to own their financial narratives. Whether you are a student starting out, a woman looking to take charge of her wealth, or a mid-career executive navigating corporate volatility, this book proves it is never too early or too late to build optionality. We are thrilled to bring this international bestseller to Indian readers.”Available Now (Amazon India #1 Bestseller & Hot New Release) About the AuthorPrashant Agarwal is a seasoned financial industry insider, global strategist, and Harvard MBA alumnus with over 25 years of experience studying capital and human behavior. He began his career as Unilever’s youngest manager globally before climbing the leadership ranks across the banking, technology, and insurance sectors. Having spent more than 15 years working within Asia’s fast-evolving corporate ecosystems, he designs practical frameworks to help high-achieving professionals face the future with unshakeable financial confidence.About Apricity PublishingBorn from the creative heritage of Bookosmia (India’s largest publisher ‘for and by young people’ with 100+ titles) and the cross-border marketing excellence of Singapore-based Krux Digital, Apricity is a premium publishing label dedicated to global thought leaders, founders, and CXOs. Apricity specializes in shaping career-long insights and profound domain expertise into powerful public narratives through end-to-end publishing and strategic distribution.Website: www.cliff.lifePhoto: https://mma.prnewswire.com/media/3001650/APRICITY_Cliff.jpg 

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/apricity-publishing-launches-global-bestseller-cliff-in-india-to-tackle-the-new-economic-paradox-longer-lives-and-shorter-careers-302813059.html

MUMBAI, India, June 26, 2026 /PRNewswire/ — Digital payments fintech firm Phi Commerce has announced the appointment of two senior industry leaders as part of its ongoing growth strategy aimed at strengthening its payment aggregator-payment gateway (PAPG) and technology solutions businesses.
The company has appointed Sachin Koneri as Business Head – technology solutions and Vishal Maru as Senior Vice President, product strategy and growth. These strategic appointments come at a time when enterprises are increasingly seeking integrated payment, merchant acquiring, issuing, and value-added technology solutions to support their digital transformation journeys.Sachin Koneri joins Phi Commerce with over two decades of experience across digital payments, merchant acquiring, banking, corporate sales, and relationship management. Throughout his career, he has led large-scale business expansion initiatives, built high-performing sales organisations, and driven merchant acquisition and revenue growth across some of India’s leading financial institutions.Prior to joining Phi Commerce, Sachin held leadership positions at SBI Payment Services, YES Bank, HDFC Bank, Via, ING Vysya Bank (now Kotak Mahindra Bank) and Global Trust Bank. In his new role, he will lead Phi Commerce’s technology solutions business, focusing on expanding merchant acquiring, issuing solutions, strategic partnerships, and enterprise payment capabilities.Vishal Maru brings over two decades of experience spanning product management, digital payments, financial services, and business growth. He has played a pivotal role in building and scaling payment products, driving innovation, and enabling business transformation across organisations.As senior vice president, product strategy and growth, Vishal will spearhead Phi Commerce’s product vision, innovation roadmap, and go-to-market strategy, helping accelerate the company’s next phase of growth across enterprise payments and digital commerce solutions.Commenting on the appointments, Rajesh Londhe, Co-founder, Phi Commerce, said: “The convergence of payments, commerce, merchant acquiring, and value-added technology services is creating new opportunities for innovation. Sachin’s experience in building merchant ecosystems and driving Issuance business expansion, combined with Vishal’s expertise in product strategy and innovation, will further strengthen our ability to deliver differentiated solutions to enterprises and financial institutions.”For more information, visit: https://phicommerce.com/ 

View original content:https://www.prnewswire.com/in/news-releases/phi-commerce-strengthens-leadership-team-with-strategic-appointments-to-accelerate-growth-across-payments-and-technology-businesses-302811690.html