Hyundai Creta, Maruti Baleno, Renault Kwid are best-selling used cars in India
Hyundai Creta, Maruti Suzuki Baleno and Renault Kwid have emerged as the top-selling used vehicles in the country, as per a report by used-car retailing platform Spinny. Other in-demand models included Elite i20 and Maruti Ciaz. The report further stated that Bengaluru, Delhi-NCR and Hyderabad have become the top markets with maximum demand for used cars. Further, the ‘most trusted brands’ in the used car market are Hyundai, Honda and Maruti Suzuki.
Spinny, in its first quarter report of 2023 stated that 65% of its used-car buyers were first-time car buyers which was an increment of 5% as compared to the same quarter last year. In terms of colour choices in the used-car segment during the period, Silver was the most popular choice. It was followed by Grey and Red, respectively.
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Customers in Delhi NCR preferred buying white, silver and grey units while those in Mumbai, Kolkata, Bangalore, and Chennai went with red hues, along with white and grey colours.
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Hatchbacks continue to be the most preferred choice of vehicle among used-car buyers, the report revealed, while there is a growing demand for compact automatic SUVs and sedans among the buyers. Another observation shared by Spinny in its quarterly report is that 36% of its total buyers between January to March this year were women. It also stated that 67% of corporate professionals bought used cars during the period by availing financing options and owning to lesser cost of ownership.
Spinny also noted that the demand for used cars reportedly surged during Holi while it saw its peak during Navratri and Akshay Trithiya. On these ocassions, the company averaged around 200, 450 and 314 units on a daily basis.
Online purchases entailed 71% of the total and 70% of the total orders were home delivered. Online purchases were the highest in Bengaluru at 75%, followed by Delhi at 68% and Hyderabad at 63%.