Creta, Nexon, EcoSport top 3 SUVs in used car segment: Spinny
The new age used car end-to-end platform has said that home grown automaker Tata Motors has replaced Japanese automobile Honda Cars among top three brand preferences in the used car segment.
According to used car retailing platform, Spinny, top three second hand SUVs sold in March quarter of calendar year 2024 on its platform, were Ford EcoSport, Hyundai Creta, and Tata Nexon. While, the most preferred brands of customers were Maruti, Hyundai, and Tata. The new age used car end-to-end platform has said that home grown automaker Tata Motors has replaced Japanese automobile Honda Cars among top three brand preferences in the used car segment. Plus, the trend of SUVs is very much reflected in the used car market as well. There has been 20 per cent growth in demand for second hand SUVs from first time buyers in Q1 CY24.
While, in hatchback segment, Spinny saw highest preference for Renault Kwid, Hyundai Grand i10, and Maruti Suzuki Wagon R.
Commenting on the rise, Niraj Singh, Founder & CEO of Spinny, stated, “Our commitment to delivering a simple and delightful car-buying and selling experience remains unwavering. The surge reflects a significant shift in consumer preferences towards versatile and spacious vehicles. We are meeting our customers’ evolving needs by providing a wide array of high-quality cars. Our dedication to transparency, convenience, and unparalleled customer service ensures a seamless and satisfying car-buying and selling experience for every individual.”
Other findings are as follows:
Which city saw highest demand for used cars?
Delhi NCR, Bengaluru and Hydearbad saw highest demand for second hand vehicles.
Manual transmission options still preferred by customers:
Most customers (70 per cent) still sought for manual transmission vehicles. Althought, prefernce for automatic transmission is also on the growth path in the country.
Growth rate of demand for automatic transmission vehicles increased to 10 per cent year-on-year (YoY) in the quarter under consideration.
More than half of car buyers opted for EMIs:
According to Spinny, out of total number of customers who bought second hand cars on its platform, more than half (51 per cent), opted for financing.
People like to come at our place and inspect cars: Spinny
According to the new age used car end-to-end platform, 75 per cent of customers opted for inspection of vehicles before finalising deal. Only 25 per cent of patrons opted for home delivery.
Spinny’s customer base has now driven past two lakh. The second hand car marketplace is operational in 22 cities. Cricketing legend Sachin Tendulkar is Spinny’s strategic investor.