Business

Some Noteworthy Used-car Buying Trends in Mumbai and Pune

Mumbai: As the market shows signs of revival across tier 1 and tier 2 cities, the used-car platform Spinny has seen a rise in demand across multiple cities. In the six months between January and August 2021, Spinny has recorded a 236% increase in sales across the country compared to the same period in 2020 – the figures being 11600 and 4900, respectively.

Out of its total cars sold from January 2020 to August 2021, more than 22,000 vehicles changed hands across India. Meanwhile, in 2020, the total sales stood at 9,100-plus cars.

Based on the current growing demand, the projected sales for 2021 are expected to be more than 28,000, with 2,900-plus cars sold monthly. The higher sales numbers are dependent on the expansion of its operations from 10 cities at present to around 20-25 by the end of 2021.

Buyers in Mumbai and Pune are inclined towards buying premium hatchbacks and SUVs, either as first cars or upgrades. Their preference per category: SUV: Hyundai Creta. Hatchbacks: Hyundai Elite i20 and Maruti Suzuki Swift. Sedans: Honda City and Maruti Suzuki Dzire.

Another interesting trend is regarding gender. Last year, 20% of Spinny buyers were women. In the last six months of 2021, women car buyers stand at almost 30% against the nationwide average of 11%. Earlier this year, a clear increase in the demand for compact SUVs from women was observed – with 34% month-on-month demand growth for compact SUVs in the Rs6-8 lakhs price range. But the age group has remained constant with 25 to 35-year olds accounting for most of the buyers while customers in their 30s and 40s are generally looking to upgrade cars.

In the case of fuel preferences, people prefer buying petrol cars owing to the diesel scrappage policy, with 75% of Spinny buyers opting for petrol used cars. Diesel cars comprise 23% of the total vehicles sold. Manual transmission is preferred in major cities, with up to 90% of buyers opting for this.

Most buyers are buying cars for family use. As a result, many are purchasing larger cars such as SUVs and sedans as they aim to upgrade vehicles to better suit their family needs.

Customers are also inclined towards taking home test drives with almost 80% choosing this along with home delivery as the preferred car-buying process. Moreover, customers are booking cars online for an entirely new car-buying experience.

This signifies the changing user behavior and the trust customers have in Spinny’s services. With all details on the website, decisions can be made from home due to its transparent policies such as Fixed Price Assurance and 5-Day Money-back Guarantee.

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