With 32% women buyers and 54% first time buyers, preference for used cars keeps rising

With the growing demand for personal mobility, Spinny, India's full-stack used car marketplace, witnessed a significant growth in its used car inventory in the third quarter of 2022. As per the report, online sales grew by 52% compared with 44% in Q2 indicating the trust & transparency among the consumers. Furthermore, 54% of Q3 customers were first time buyers  with the majority being between 30-40 years. With 32% of buyers being women there has been a constant demand from this segment.

Spinny witnessed a high demand for used cars from Bangalore, Delhi NCR, and Hyderabad in Q3. Additionally, hatchbacks remain the top choice of customers with Hyundai, Maruti Suzuki & Honda as the top in demand car brands, and Elite i20, Grand i10, and Baleno topping the chart for the top three car models. Colors like white, grey and silver, specifically in that order, take the top favorite spots among Spinny buyers.

According to Spinny, the surge in demand for used cars is due to the rising need for personal mobility, progressive gender and demographic shifts, economics and the acceptance of used cars. Keeping in mind these needs, Spinny is offering a contemporary solution at each of its touchpoints backed by ‘simple and delightful car ownership’ at the core of every buying or selling car experience. The entire process is curated to be an online-first experience with all details about a specific car along with a 360-degree view of the vehicle listed on the platform. The company also notes that the sustained shift towards online modes of buying and selling cars is indicative of both the changing user behaviour as well as the trust that customers repose in Spinny’s services.

Commenting on the growth, Niraj Singh, Founder and CEO – Spinny, said, “Our primary goal is to provide each customer with  the best possible car which meets their requirements & exceeds their expectations. During the festive season, consumers like to make special purchases, and our team has been ready to serve each and every customer. We continue to move closer to our goal of providing quality automobiles to every household in the country."

Entering the festive season with cheer, Spinny witnessed a positive growth with the auspicious beginning of Navaratri. Over 307 cars were sold by the brand on the first day alone, followed by 204 on the 10th day (Dussehra), the trend should continue with Dhanteras and Diwali, approaching.

In terms of luxury used car trends, Spinny Max has also witnessed a constant demand from metro cities such as Delhi NCR, Bangalore & Mumbai. The demand is also  constant for brands like Audi, BMW, and Mercedes, with the Audi Q3, Mercedes-Benz C-Class, and BMW 3 Series being the most sought after car models. Black, white, and grey remain the top favourite among the buyers.