As per the latest report by India, the pre-owned car market has witnessed a rapid growth in the recent times. used car retail sales platform small garden, Factors such as rising prices of new vehicles, along with a growing preference for personal mobility during the COVID-19 pandemic, continue to contribute to the growing popularity of the used car market.
While the majority of used car buyers in India are still men, as per the Q1 2022 used car buying trends, women claim a 26% share in the overall business. We have said in the previous report that the share of women is around 12-15%. Automobile buyers in India, but since then there has been a significant increase in the number of women buying used cars.
The study by Spinney also found that over 55% of car buyers are actually first-time buyers, and are within the age group of 25 to 40, the average being 31 years. maruti suzuki, Hyundai And Honda It emerged as the most sought after brand on the used car platform in the first quarter of this year. Among model types, hatchback spinny tops the buyers’ wish list, followed by sedans and then SUVs.
Hyundai Grand i10, Maruti Suzuki Swift, and Hyundai Elite i20 were the top three favorite car models on the platform during this period, with White, Grey, and Silver being the most preferred color options. Spinny claims that over 80% of pre-owned vehicle buyers opted for home delivery facility, with 41% of all sales shopping online.
Company Insights looks at the many factors and trends driving this growth. Some of these trends include the accelerated shift to online automobile buying and selling, increasing demand in metro cities, progressive gender shifts, increasing consumer preference towards vehicle ownership and financing used car buyers.
While the majority of used car buyers in India are still men, as per the Q1 2022 used car buying trends, women claim a 26% share in the overall business. We have said in the previous report that the share of women is around 12-15%. Automobile buyers in India, but since then there has been a significant increase in the number of women buying used cars.
The study by Spinney also found that over 55% of car buyers are actually first-time buyers, and are within the age group of 25 to 40, the average being 31 years. maruti suzuki, Hyundai And Honda It emerged as the most sought after brand on the used car platform in the first quarter of this year. Among model types, hatchback spinny tops the buyers’ wish list, followed by sedans and then SUVs.
Hyundai Grand i10, Maruti Suzuki Swift, and Hyundai Elite i20 were the top three favorite car models on the platform during this period, with White, Grey, and Silver being the most preferred color options. Spinny claims that over 80% of pre-owned vehicle buyers opted for home delivery facility, with 41% of all sales shopping online.
Company Insights looks at the many factors and trends driving this growth. Some of these trends include the accelerated shift to online automobile buying and selling, increasing demand in metro cities, progressive gender shifts, increasing consumer preference towards vehicle ownership and financing used car buyers.