Spinny Releases Used Car Trends For Q2 2022; Says 57% Of Its Customers Were First Time Buyers

Gurugram-based used car platform, Spinny has released its trend report for the second quarter of the 2022 calendar year. Between April and June 2022, the company saw that 57 per cent of its customers with were first-time car buyers. In fact, a majority of Spinny's customers were between 30 and 40 years of age, whereas 32 per cent of overall car buyers were women. Spinny reports that the boost in demand for used cars is due to factors like - the need for personal mobility, economics, and the acceptance of used cars.

Also Read: Used Car Market In India To Grow Significantly In Next Five Years: 2021 IBB Report

Spinny also saw higher demand for petrol cars at 75 per cent, compared to diesel and CNG at 23 per cent and 2 per cent.

Speaking on Spinny's Q2 insights, Niraj Singh, Founder & CEO, Spinny, said, "Today, a car is no longer merely a novelty, but is increasingly being regarded as a necessity in urban areas of India. Spinny has maintained its commitment to home delivery and home test drives with Extracare. With our focus on the pillars of Spinny Assured designed to include quality, standardisation and the greatest degree of customer-centricity, people have come to trust a pre-owned car company and have helped us drive life-long relationships with car buyers. Our data shows that we are making progress toward our goal of providing high-quality automobiles to every household in the nation."

Also Read: Volkswagen Offers Complimentary One-Year Service Pack With Used Cars In July 2022

The report also mentions that due to the high demand for contactless buying and selling in the used-car market, 44 per cent of Spinny's total transactions happened through online channels. On the other hand, 80 per cent of Spinny custoners preferred to get their car to be home delivered. The report also threw light on what was most Spinny customers' top choice when it came to the brand, model, and colour, in Q2 2022. While the top 3 preferred car brands were Maruti Suzuki, Hyundai and Honda, the top 3 models preferred by customers were Hyundai i20, Grand i10 and Maruti Suzuki Baleno. The top 3 preferred colour options were white, grey, and silver.

Spinny also reported that 80 per cent of Spinny custoners preferred to get their car to be home delivered.

Recently, Spinny also started selling pre-owned luxury cars under a new vertical called Spinny Max, and the company says that it already has an assortment of over 500 cars and delivery services through 250 cities. Spinny says that it has witnessed an increase in demand for luxury vehicles, from metro cities, under the age bracket of 31 to 45 years. In the second quarter of 2022, the demand was high for brands such as Mercedes-Benz, Audi, and BMW, while the preferred car models were Mercedes-Benz C-Class, BMW 3 Series and the Audi Q3. Colours like white, grey, and black, specifically in that order, were high in demand.