NEW DELHI: Indians spend just three hours on an average, researching cars online, with the ability to browse an extensive selection of vehicles with transparent pricing, according to a report.
Many dealerships are conducting the entire sales process online to cater to the growing demand for online car buying, CARS24 said in a report. It said with the convenience of being able to complete the entire purchasing process from home, including financing and delivery, online platforms have made it easier than ever to buy a car online.
According to the report — Drive Time Quarterly Report — by CARS24, there is a significant shift among Indian consumers for purchasing and selling pre-owned cars. The first quarter of the calendar year 2023, especially, saw a growth in demand for used cars across the country, according to the report.
CARS24 posted a 100 per cent jump in sales in the January-March quarter (Q1-2023) as compared to January-March quarter 2022, the report of the company said.
Among the trends, in Q1 of 2023, Maruti Suzuki continued to dominate the used car market, maintaining its pole position as the top searched brand on the platform and leading the pack in terms of the most cars sold. The platform reported that Maruti Swift hatchbacks, which included the Swift and Baleno, were the most popular Maruti cars sold in Q1 during 2023.
According to the report, there has been a significant surge in the sales of pre-owned cars in Lucknow and Patna, with these cities experiencing a notable uptick in car deliveries. The Maruti Swift and Hyundai Grand i10 were the most sought-after models in both cities, a testament to their popularity among Indian car buyers.
Gajendra Jangid, co-founder of CARS24, said, “With the resumption of work from the office and the importance of personal mobility, the second-hand car market is experiencing remarkable growth across India. Our observation of this emerging trend has us excited to embark on this journey with our customers and revolutionise the way India approaches the used car market”. (ANI)