Droom, one of India’s most popular online automobile transactional marketplace, released its annual automobile industry trends report for the CY 2018. Having generated a massive USD 1 billion GMV during the year, Droom’s annual industry trend report is the only source in India that is based on close to 1 million actual transactions worth $1bn. Highlighting the trends for the Internet population in India for the automobile industry, the Maruti Suzuki Swift emerged as the most preferred car, while the Hero Splendor Plus became the most favoured bike in the pre-owned space.
The Swift was followed by the Dzire, Innova, Hyundai Verna and the Honda City. The Splendor Plus’ popularity was higher than the Honda CB Shine, Passion Pro, Bajaj Pulsar and the Passion Pro i3S. The Harley Davidson Street 750 topped the charts as the most popular luxury bike, trailed by the Benelli Tnt 600i, Kawasaki Ninja, Benelli TnT 300, and the Harley Sportster. Leading the list for luxury cars is the BMW 5 series, followed by the E-Class, the C-Class, the Audi A4 and the BMW 3-Series. The Honda Activa 5G was the most popular scooter.
The costliest car listed on Droom was a 2017 Rolls-Royce Ghost which was listed at INR 6,00,00,000 crores. On the two-wheeler front, the costliest bike listed was the Ducati Panigale 1299 R Final Edition, listed at INR 51,82,000 lakh. Cars made up 42% of Droom’s sales last year, with scooters contributing 28%, bikes 22% and luxury cars and superbikes making up 7- 8%. The Top 5 largest markets were Delhi, Bangalore, Hyderabad, Ahmedabad and Pune. For 2018, the top 5 emerging cities were Faridabad, Ghaziabad, Chennai, Nalgonda and Kotpuli.
Some Key Findings Of The Report:
- BMW 5 Series replaced Audi A4 as the most successful premium car in CY 2018
- Hatchback continues to be the most preferred body type
- CY 2018 saw a significant increase in the number of premium cars sold indicating increasing disposable income
- The average duration of ownership witnessed a significant decrease in 2 wheelers
According to the report, the average selling price for bikes was INR 54,192 and for cars was INR 6,53,951. Hatchbacks remained the model of preference for buyers, and 5-6-year-old vehicles were sought extensively. For two-wheeler buyers however, 2015-2017 was the preferred bracket of manufacturing year. This year, buyers registered a stronger preference for diesel fuel cars – 59% vs 39% for petrol cars, considering the price disparities experienced throughout the year for petrol.
In a further boost to the ‘Make In India’ initiative, 34% customers preferred vehicles from Indian manufacturers followed by 21% Japanese and 17% South Korean vehicle manufacturers in CY 2018, showing a steady divergence from the obsession with foreign cars. Manual Transmission cars witnessed a huge edge over auto transmission as 75% customers opted for manual over 25% for automatic.