Online new car buying platform CarLelo registers 300% growth in bookings in Q3 2023

Delhi-based online new car buying platform, CarLelo has announced a 300 per cent growth in digital bookings in Q3 2023 (July - September). While the company did not share the exact number of bookings, the online car-buying start-up said the numbers come on the back of the auto sector poised for exponential growth in new car sales as the festive season comes closer. CarLelo is a multi-brand virtual showroom, a venture by Capri Loans, promising to offer the best value on a new car purchase made via the platform.

More and more customers are now comfortable with completing their car purchases online, a transition accelerated by the pandemic. Sharing insights, CarLelo identified 98 per cent of its online buyers to be men, while online about two per cent were women. About 0.6 million visitors came to the online platform to enquire about new cars and make their purchases. The company also outlined most of its buyers to be in the 25-40 years age bracket with the average age of the buyer to be around 31 years.

Furthermore, new models including the Hyundai Exter, Maruti Suzuki Jimny, Mahindra Thar, Maruti Suzuki Grand Vitara, Tata Nexon, and Maruti Suzuki Fronx, have worked as a stimulus towards pushing online purchases. CarLelo also identified most enquiries on its platform were coming from the states of Delhi, UP, Maharashtra, Gujarat, Madhya Pradesh, Rajasthan, Punjab, and Karnataka, among others.

Speaking on the sales for Q3 2023, Gaurav Aggarwal, Founder and CEO - CarLelo, said, “In today's urban India, a car has transitioned from being a luxury to a necessity. The market has witnessed an impressive surge in digital new car purchases. With our unwavering commitment to quality, hassle-free, and customer-centric approach, people have placed their trust in online new car buying, allowing us to build enduring relationships with our valued clients. We're on a trajectory of growth. Our aim is a sustainable, profitable business, and we anticipate ending the year with significant double-digit growth. We are also quite positive about the demand during the festive season and looking forward to achieving a target of 10-15 per cent improvement for our overall performance."

CarLelo further stated that brands like Maruti Suzuki, Hyundai, Tata Motors, Mahindra, Kia, MG Motor India and Toyota have received the most enquiries on its online car-buying platform. Meanwhile, colours including white, grey and silver were the most favoured by its customers. The company also revealed that the new-age buyers are more interested in the number of features on offer including connected car technology, ADAS and more.

Check out Upcoming Cars in India 2024, Best SUVs in India.