Mumbai, April 13 -- The auto sales have been witnessing a prolonged slowdown owing to weak consumer demand. As per data from the Society of Automobile Manufacturers Association (SIAM), the total sales in domestic cars declined by 6.87% in March. However, there is an uptick in the used car market. "The new car market sales have been muted-hardly growing by 2.5-3% year-on-year. However, used car market is growing at 15-18%. Last year, new cars closed at 3.3 million in sales, while used car market would have sold not less than 4 million cars. Around five years ago, sales of used cars were lower than new cars. Now it is 1.3 times of the new car market. Globally, used car market is usually 2.5 to 3 times the new car market," said Ravi Narayan, head-secured assets, ICICI Bank Ltd....