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Friday, March 29, 2024
HomeLatest Car NewsSecond-Hand Car Market in India to be Regulated by MoRTH

Second-Hand Car Market in India to be Regulated by MoRTH

In a new development, the Ministry of Road Transport and Highways has decided to regulate the most unorganized segment of the automobile industry, which happens to be India’s second-hand car market.

Second-Hand car market (1)
Second-Hand car market (1)
  • MoRTH has taken this decision to channelise India’s most unorganised second-hand car market.
  • It has also been done to ease the pre-owned car buying experience and stop all the fraudulent activity across this industry.
  • All second-hand car dealers must obtain an authorization certificate to continue doing business. Dealers who fail to obtain the said certificate will no longer be allowed to do business.
  • Moreover, the government has also announced that dealers can now apply for renewal of their registration certificate/ renewal of the certificate of fitness, duplicate registration certificate, NOC, and transfer of ownership of motor vehicles in their possession.
Maruti Suzuki price hike
Maruti Suzuki price hike
  • MoRTH has also mandated that all second-hand car dealers maintain their inventory via electronic means through a soon-to-launch government portal.
  • All dealers must keep a brief track of the maintenance and trip registry to sell their inventory which the government will now regulate.
  • Although, if a dealer is found breaching the rules, his/her license may get suspended or lead to the contract’s cancellation.
  • Additionally, If a dealer’s license is cancelled or suspended due to suspicious activity. The dealer can appeal under rule 55A or 55F to the concerned authority authorised by the State Government or Union Territory Administration.
  • However, it is still unknown whether this step will improve anything in the second-hand car market in India.

Thinking of buying a second-hand car? Click Here

Jaskaran Singh Bhola
Jaskaran Singh Bholahttps://gomechanic.in/blog
Senior Content Strategist at GoMechanic | Avid Honda lover | VTEC for life! | Foodie | Remember who you are; the best or nothing!

1 COMMENT

  1. Excellent initiative by MORTH. But I hope it’s enforced strictly unlike the 10 second toll plaza rule which is not followed anywhere, at least in Maharashtra. Long queues, inefficient Fastag readers, inefficient staff all leading to queues of more than 100 metres at toll plazas. I hope this will improve soon

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