Second-hand car prices in Delhi have plummeted by 40-50% in recent days due to End-of-Life (EOL) vehicle restrictions, according to the Chamber of Trade and Industry (CTI). Nearly 60 lakh vehicles are affected by the sudden downturn.

CTI Chairman Brijesh Goyal reported that luxury cars previously selling for Rs 6-7 lakh now fetch only Rs 4-5 lakh. Traders are being forced to sell vehicles at one-fourth their original price as buyers from other states negotiate aggressively, aware of Delhi dealers' challenges.

Over 1,000 traders in areas like Karol Bagh and Preet Vihar face difficulties obtaining NOCs for interstate sales. The Delhi government banned fuel for overage vehicles from July 1 but has requested CAQM to suspend the ban citing technological challenges.