NEW DELHI: India confirmed enthusiasm for used vehicles in 2024, with a exceptional 76 p.c of Spinny prospects rising as first time buyersThis marks a 3 per cent rise from the 73 per cent recorded in 2023 in keeping with an annual report by the corporate coping with promoting and shopping for of used vehicles.
Highlights of the report
- Women buyers now account for 26 p.c of the shopper base, with their numbers reflecting a constant upward development. 60 per cent of these girls most well-liked computerized hatchbacks, whereas 18 per cent inclined in direction of compact SUVs.
- The high three most well-liked car fashions skilled a shift in 2024, in keeping with the report, cited by information company ANI. While the Renault Kwid retained its place as the highest favorite, Hyundai Grand i10 additionally continued its stronghold. On the opposite hand, Baleno misplaced its spot to Maruti Suzuki Swift which made its approach into the highest three.
- hatchbacks continued to dominate as probably the most sought-after class, emphasizing the recognition of compact, worth-for-cash automobiles.
- Compact SUVs additionally noticed a 20 p.c development in gross sales, pushed by their mixture of area, efficiency, and the “big car” enchantment. Models just like the Ford EcoSport remained buyer favourites.
- Petrol automobiles continued to dominate the market, accounting for 82 p.c of all gross sales. Diesel vehicles dropped to 12 per cent, whereas CNG and electrical automobiles (EVs) held regular at 4 per cent and a pair of per cent, respectively.
- The common buyer age dropped from 34 years in 2023 to 32 years in 2024, indicating an enchantment to youthful buyers. Additionally, there was a notable development of prospects upgrading their automobiles, with 22 per cent choosing an improve in comparison with 12 per cent within the earlier yr.
- Major cities like Bangalore, Delhi NCR, and Hyderabad emerged as the highest contributors to gross sales, cementing their standing as key markets for Spinny.
Niraj Singh, founder and CEO of Spinny addressed the yr-finish traits “From delivering our first car in 2015 to over 2 lakh tales by the tip of 2024, it has been a humble journey. This development fuels our ardour to proceed providing the service. and expertise to our prospects as we transfer ahead.”
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