Spinny, a popular used car marketplace, gathered data that sheds light on the demographics of the pre-owned car market. The average age of pre-owned car buyers is 32, and women now account for 32 percent of the demand.
In terms of popularity, the Hyundai Grand i10, Maruti Suzuki Swift, and Renault Kwid hatchbacks emerged as the top-selling models in the pre-owned market during the third quarter of 2023. Among these models, silver and grey were the preferred color choices among customers. Maruti Suzuki, Hyundai, and Honda are the brands most preferred by customers in the used car segment. The demand for automatic cars has also seen an increase.
The popularity of online purchases of used cars has witnessed a significant rise, with 70 percent of bookings taking place online. Additionally, 32 percent of customers are opting for home delivery, and end-to-end digital transactions have increased by 21 percent. Among different segments, compact SUVs and hatchbacks are in high demand among used car buyers. Luxury brands such as Jeep, BMW, and Mercedes-Benz have also seen consistent growth, with the BMW X1 SUV and Mercedes-Benz C-Class sedan being the top choices.
However, the ban on diesel cars older than 10 years has affected the demand for diesel pre-owned vehicles, with over 80 percent of used car buyers now preferring petrol cars. This change in preference is expected to impact the residual value of diesel cars in the future.
During the ongoing festive season, Spinny reported selling over 2,300 cars during the 9-day Navratri festival, with 600 deliveries taking place on the first day alone. This trend is expected to continue during the upcoming Dhanteras and Diwali festivals as well.