The Renault Kwid has emerged as a top contender in India’s used-car market, securing its position among the top three most preferred models for the third consecutive quarter. According to Spinny’s latest quarterly report, the Kwid's continued popularity highlights a significant trend in the used-car segment, especially among first-time buyers. Competing closely with well-regarded models such as the Hyundai Grand i10 and Maruti Suzuki Wagon R, the Kwid remains a favourite for many buyers.
Honda's Comeback: A Strong Return to the Top Three
After a brief period away from the forefront, Honda has reasserted itself in the used-car market, making a notable comeback to the top three preferred brands. This resurgence is largely attributed to the enduring appeal of its popular models, particularly the Honda City and Amaze. The brand’s return underscores its continued relevance and competitiveness in the automotive landscape.
Rising Popularity of Compact SUVs and Fuel Preferences
The quarterly report also sheds light on a notable trend in the compact SUV segment, which has experienced a robust 12 percent growth over the last quarter. This increase reflects a growing preference for versatile and practical vehicles. In terms of fuel choices, petrol cars remain dominant, with 83 percent of buyers opting for them. Diesel cars hold a smaller share at 12 percent, while CNG vehicles account for 5 percent of the market.
Manual Transmission Cars Reign Supreme
An intriguing shift in buyer preferences has been observed in the transmission category. The demand for manual transmission cars has surged to 76 percent, up from 70 percent in the previous quarter. Conversely, the popularity of automatic transmission vehicles has declined to 24 percent. This trend suggests a preference for the control and engagement offered by manual gearboxes, despite the growing technological advancements in automatic transmissions.
Women Buyers and Young Demographics: Emerging Trends
Women buyers now represent 30 percent of all used-car purchases, reflecting a growing inclusivity in the market. The average age of car buyers remains at 32, indicating a youthful and dynamic customer base. This demographic shift suggests a vibrant and evolving market with increasing interest from younger buyers.
Growth in the Luxury Used-Car Market
The used luxury car segment is witnessing substantial growth, particularly in major urban centres like Delhi, Bengaluru, and Mumbai. Premium models such as the BMW X1 and Audi A4 are gaining traction among younger buyers, signifying a growing inclination towards high-end vehicles. The Jeep Compass has also emerged as a popular choice in the luxury segment, further highlighting the expanding appeal of premium brands.
The growing interest in used luxury cars reflects a broader trend towards increased consumer sophistication and a desire for premium features at a more accessible price point. This shift is indicative of the evolving preferences and aspirations of Indian car buyers.
Honda's Comeback: A Strong Return to the Top Three
After a brief period away from the forefront, Honda has reasserted itself in the used-car market, making a notable comeback to the top three preferred brands. This resurgence is largely attributed to the enduring appeal of its popular models, particularly the Honda City and Amaze. The brand’s return underscores its continued relevance and competitiveness in the automotive landscape.
Rising Popularity of Compact SUVs and Fuel Preferences
The quarterly report also sheds light on a notable trend in the compact SUV segment, which has experienced a robust 12 percent growth over the last quarter. This increase reflects a growing preference for versatile and practical vehicles. In terms of fuel choices, petrol cars remain dominant, with 83 percent of buyers opting for them. Diesel cars hold a smaller share at 12 percent, while CNG vehicles account for 5 percent of the market.
Manual Transmission Cars Reign Supreme
An intriguing shift in buyer preferences has been observed in the transmission category. The demand for manual transmission cars has surged to 76 percent, up from 70 percent in the previous quarter. Conversely, the popularity of automatic transmission vehicles has declined to 24 percent. This trend suggests a preference for the control and engagement offered by manual gearboxes, despite the growing technological advancements in automatic transmissions.
Women Buyers and Young Demographics: Emerging Trends
Women buyers now represent 30 percent of all used-car purchases, reflecting a growing inclusivity in the market. The average age of car buyers remains at 32, indicating a youthful and dynamic customer base. This demographic shift suggests a vibrant and evolving market with increasing interest from younger buyers.
Growth in the Luxury Used-Car Market
The used luxury car segment is witnessing substantial growth, particularly in major urban centres like Delhi, Bengaluru, and Mumbai. Premium models such as the BMW X1 and Audi A4 are gaining traction among younger buyers, signifying a growing inclination towards high-end vehicles. The Jeep Compass has also emerged as a popular choice in the luxury segment, further highlighting the expanding appeal of premium brands.
The growing interest in used luxury cars reflects a broader trend towards increased consumer sophistication and a desire for premium features at a more accessible price point. This shift is indicative of the evolving preferences and aspirations of Indian car buyers.
