Be it first-time purchases or upgrades, Hyderabad buyers are preferring pre-owned cars
Hyderabad, 22nd September 2021: As the market is reviving across India’s tier 1 and tier 2 cities, the used-car platform Spinny has registered an increase in demand across many locations. Between January and June 2021, Spinny has seen a 236% increase in sales across India versus the same period in 2020, with the figures standing at 7,800 and 3,300, respectively.
Coming to the total used cars sold from January 2020 to June 2021, 20,000-plus vehicles have found new owners across India. For 2020, the total sales stood at 9,100-plus cars.
Going by the current growing demand, the projected sales for 2021 is expected to cross 35,000, with more than 2,000 cars sold every month. The higher sales numbers are based on the expansion of operations from 8 cities presently to around 20-25 by the end of 2021.
Hyderabad buyers prefer hatchbacks over other segments, with Maruti Suzuki and Hyundai being the most popular. The top preference in SUVs: Hyundai Creta. In hatchbacks: Maruti Suzuki Swift and Hyundai Elite i20. In sedans: Honda City and Maruti Suzuki Dzire. People wishing to upgrade are choosing pre-owned cars from Hyundai and Honda, especially Hyundai Creta.
Another interesting trend concerns gender. In 2020, 20% of Spinny buyers were women. In the last six months of 2021, women car buyers stood at almost 30% unlike the nationwide average of 11%. Meanwhile, the age group has remained constant with 25-35-year olds accounting for most of the buyers while those in their 30s and 40s are generally seeking to upgrade cars. Earlier this year, a clear increase in the demand for compact SUVs from women was observed – 34% month-on-month demand growth for compact SUVs in the price range of Rs6-8 lakhs.
In the case of fuel preferences, people prefer petrol cars due to the diesel scrappage policy, with 75% of Spinny buyers opting for petrol used cars. Diesel cars account for 23% of the total cars sold. Manual transmission is preferred in major cities, with up to 90% of buyers choosing the same.
Most buyers are purchasing cars for family use. Consequently, many are buying larger cars such as SUVs and sedans as they aim to upgrade cars better suiting their family needs.
Customers are also inclined towards taking home test drives with almost 80% choosing this along with the home delivery process as the preferred choice of car buying. Customers are also booking their car online for a whole new buying experience.
This proves the changing user behaviour and the trust that customers have in Spinny’s services. With all details on the website, decisions can be made from home, due to transparent policies such as Fixed Price Assurance and 5-Day Money-back Guarantee, among others.