As we started with 2024, Spinny continued to grow from various initiatives to bring the best experience for you. It’s clear that Spinny is on the forefront to make it accessible for our customers to be on the road in a safe and delightful manner. From the world’s most fashionable car brands to the colourful preferences that you show off to your friends and family, here are the insights from January to April 2024.
Redefining Car Buying with Home Deliveries and Dedicated Parks
2024 started with a bang and saw a remarkable shift in how people buy cars. Spinny Hub deliveries continue to dominate delivery preference by 75% while 25% have opted for home deliveries, underlining the growing preference for convenience. Additionally, 50% of all car sales took place at the dedicated Spinny Parks in Bengaluru, Kochi, Ahmedabad, and Pune. These parks are more than just car lots; a unique, hassle-free car shopping experience is unlocked for a comprehensive on-site car buying experience.
Explore Spinny’s Role in Car Buying Trends
Ever wondered what a typical Spinny buyer looks like? Let’s dive into the demographics of our audience. The average buyer is young, with 32 years being the average age This youthful enthusiasm is complemented with a growing number of women car buyers, with 36% of them opting for used cars from Spinny. It’s empowering to see a rise in women drivers reflecting broader trends of independence.
Bengaluru leads the list of top three car buying cities with other two being Delhi NCR and Hyderabad which remain intact in the list. In the era where digital transactions are rising, 60% sales took place digitally, highlighting a preference for online transactions in the used car space.
Revolutionizing Car Ownership with Digital Lending Dominance
With over 54% of buyers opting for used car loans through Spinny, there has been a remarkable shift towards digital lending in the automobile industry. Used car loans were found to be a preference for a majority of first-time buyers.
The Evolving Landscape of Used Car Preferences
We have talked enough about cars but now let’s talk about the preferences in the specifications. Buyers have now started to prioritise features like airbags, sunroofs, and automatic transmissions. Despite this, manual gearboxes still dominate with 70% opting to shift gears themselves while the remaining opted for more convenient automatics to suit urban congestion. 80% buyers prefer petrol as their fuel preference because of its reliability and performance, 15% opting diesel to seek long distance performance while 5% prefer CNG as a greener alternative. Popular colours remain white, grey, and red reflecting a timeless aesthetic appeal.
Breaking into the Top Three Car Brands, Reshaping Consumer Preferences
Tata makes a comeback with their cars in the first quarter and swamps the list by replacing Honda to join Maruti Suzuki and Hyundai as top car brands. Tata’s resurge into the market has definitely added new excitement. Narrowing down to specific models Hyundai’s Grand i10, Maruti Suzuki’s Wagon R, and Renault’s Kwid are buyers’ top three preferences because of their affordable price, reliable performance, and fuel efficiency. Additionally, Compact SUVs like Ecosport, Creta, and Nexon see rising demand because of their spacious interiors and reliable performance.
Driving luxury: Trends in India’s top Metropolises.
Jumping onto the segment of cars which makes everyone turn their head because of allure and prestige: the luxury segment. Which cities had the highest buyers of luxury cars? Bengaluru, Delhi NCR, and Mumbai lead luxury car sales, with Delhi at the forefront. Preferred colours are white, black, and blue reflecting subtlety and elegance.
With pan-India shipping available, luxury car enthusiasts from tier 2 and tier 3 cities found it more accessible to buy their preferred used luxury cars, with over 100 high-end cars delivered. India loves German luxury while others prefer an American adventure as BMW, Jeep, and Mercedes dominate the brand choice, with popular models being BMW X1, Jeep Compass, and Mercedes C-Class. This trend highlights the growing appetite for premium cars across different regions, driven by both status and performance.
