Spinny reported that the used car market in India has witnessed a notable shift in consumer behavior, particularly among women buyers
Key Findings
Spinny’s latest report indicates a substantial 46% increase in women purchasing used cars across the country in March 2024. This surge signifies a remarkable progression from 35% in the previous quarter.
Regional Insights
Diving deeper into regional variations, Spinny’s data reveals intriguing insights. Delhi-NCR leads the pack with a 48% rise in women buyers, closely followed by Bengaluru (41%), Mumbai (46%), and Pune (39%). Notably, Kochi in the southern region witnessed an impressive 57% surge in women purchasing Spinny cars. Additionally, non-metro cities like Lucknow and Jaipur recorded a 20% growth in women buyers.
Factors Driving the Trend
Several factors contribute to the increasing preference for used cars among women in India. Financial independence, environmental consciousness, and the desire for greater autonomy are among the primary drivers identified by Spinny’s comprehensive data analysis. Additionally, the availability of diverse models and brands catering to varied preferences and budgets plays a crucial role in attracting women buyers to the used car market.
Insights from Spinny’s CEO
Mr. Niraj Singh, CEO and Founder of Spinny, expressed his enthusiasm for the rising trend, emphasizing the platform’s commitment to empowering women as car owners. Spinny’s ‘Lady Luck’ promotion, featuring exclusive discounts on car purchases for women during March.
Popular Models Among Women Buyers
Among the favored models on the Spinny platform, the Renault Kwid, Hyundai Grand-i10, and Maruti Suzuki Baleno emerge as top choices among women aged 30 to 40 years.
Conclusion
In conclusion, Spinny’s report sheds light on the changing dynamics of India’s used car market, with women emerging as a significant consumer segment.