The Maruti Swift, Renault Kwid and Hyundai Grand i10 were the most sold used cars in 2024, according to Spinny’s 2024 annual report. Swift replaced Baleno in the top rankings, while the Renault Kwid topped the sales charts in the used car market.
- The Top 3 places for used cars were Bengaluru, Delhi NCR and Hyderabad
- Manual cars accounted for 76 percent of buyers (including both males and females)
- White, grey and red colors were the most demanded
Spinny’s report added further used car buyers preferred brands like Honda, Maruti and Hyundai. Hatchbacks dominated sales due to their compact size and lower maintenance costs. Whereas, compact SUVs, like the Ford EcoSport (now discontinued), registered a 20 percent growth.
Used car buyers women share, fuel and finance options
It further stated women customers accounted for a 26 percent share of the used car market last year. Automatic hatchbacks were the most bought at 60 percent, followed by 18 percent of women buyers going for compact SUVs.
Petrol cars accounted for 82 percent of all car purchases. Diesel cars followed with a 12 percent share, while CNG cars represented 4 percent and electric vehicles made up 2 percent, respectively. The Top 3 places for used cars were Bengaluru, Delhi NCR and Hyderabad.
Last year, 22 percent of buyers upgraded their cars compared to 12 percent in the year-ago period, making for an 83 percent increase. Additionally, financing options were chosen by 56 percent of buyers, with the majority (60 percent) aged between 25 and 30 years.
Used car buyers average age
The average age of used car buyers dropped to 32 years in 2024, compared to 34 years in 2023. Notably, 76 percent of buyers were first-time car owners, up from 73 percent the previous year. The overall 4 percent increase showed a growing interest in car ownership, especially among younger buyers. A whopping 76 percent of all used car buyers were first-time owners.
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