Tuesday, Feb 27 2024 | Time 05:15 Hrs(IST)
image
Press Releases » prnewswire


Spinny shares used car trends in Q3 2023, with Spinny Parks serving more than 50% of deliveries



-           Spinny turns cars into celebrations by selling over 2,300 cars during the 9-day festive period of Navratri


-             Festival of Spinny continues with 600+ deliveries on the first day of Navratri


  • Witnessed an increase in completely digital transactions by 21%
  • 20% month-on-month growth in Pune, led by Spinny Park
  • Bangalore, Delhi NCR and Hyderabad generate significant demand, with 80% of buyers opting for petrol cars
  • First-time buyers consistently continue to increase demand for cars with 63%
  • Grand i10 stands out as the most popular choice in metropolitan cities
  • Increase in the demand for automatic compact SUVs and Hatchbacks

MUMBAI, India, Nov. 28, 2023 /PRNewswire/ -- With the growing trends and demand for second hand cars in 2023, Spinny, India's full-stack used car marketplace, has reported substantial growth in its used car sales for the third quarter of 2023. According to the quarter report, the company witnessed a rise to 63% of first-time car buyers across India from August 2023 to October 2023 compared to 57% in Q2 2023 indicating a growing interest and trust in Spinny.




Spinny Insights Q3 2023


Stats from a delightful car ownership quarter


First-time car-buyers


63 %


The average age of most car buyers


 32 year


Women car-buyers


32 %


Home deliveries


32 %


Online Purchases


70 %


Top three preferred car brands


Maruti Suzuki, Hyundai, Honda


Top three preferred car models


Grand i10, Swift, Kwid


Top three preferred colours


White, Grey, Silver


Starting the festive season with excitement, Spinny delivered over 600 cars on the first day of Navaratri. The company saw significant growth, by selling over 2300 cars during the 9-day festive period. This trend is likely to continue as Dhanteras and Diwali approaches.


With easy financing options, rapid digitalization, an increased need for personal mobility, lesser cost of ownership, etc. acting as growth drivers. While hatchbacks remained the most preferred option for Spinny buyers, there's a growing demand for compact and luxury SUVs. When it comes to colors, while Delhi NCR prefers white, silver, and grey, red emerges as a popular choice among buyers of second hand cars in Mumbai, Kolkata, Bangalore, and Chennai, alongside white and grey.


Commenting on the rise in demand for used cars on its platform, Niraj Singh, Founder & CEO, Spinny, said "At Spinny, we believe in not just selling cars but enhancing the car buying journey. We've gone the extra mile by pushing a complete hybrid model that's flexible to online to offline methods, our relentless commitment to a customer's comfort and convenience. With over 600+ deliveries on the first day of Navratri, it's a testament to playing a small part in big celebrations of customers. The trust in Spinny keeps pushing to set benchmarks in car ownership in the country".


In the last two years, Spinny's customer base has risen to over 2 lakhs, with over 57 operational car hubs, including the Spinny Max category and Spinny Park experiential spaces across the country with a total assortment of 20,000+ cars.


Regarding trends in luxury used cars, the Max category has seen the highest demand in the Delhi NCR region, followed by Bangalore and Mumbai. The company saw a consistent demand for luxury brands like Jeep, BMW, and Mercedes-Benz, with the BMW X1 Series, and Mercedes-Benz C-Class being the most popular models. Among luxury car buyers, black, blue, and red are the top colour choices.


About Spinny


Founded in 2015, Spinny is a used car retailing platform that aims to bring about transparency and convenience in the car buying and selling process in India. Spinny operates across the entire value chain of used cars, embedding superior technology and processes to deliver a premium experience to customers. As a testimony of Spinny's commitment to transparency and quality, every car on the Spinny platform comes with a 200-point inspection checklist, a 5-day no-questions-asked money-back guarantee and a 1-year after-sales warranty. Spinny has 57 car hubs and is operational in 22 cities, including Delhi, Gurugram, Noida, Bangalore, Mumbai, Pune, Hyderabad, Chennai, Kolkata, Ahmedabad, Lucknow, Jaipur, Chandigarh, and Indore, among others. Last year, Indian cricket legend Sachin Tendulkar partnered with Spinny as a strategic investor and a lead brand ambassador. Sports icon, PV Sindhu, a believer and customer of Spinny, is also a part of the series of marketing initiatives focused on realising the aspirations of a billion car dreams.


For more information visit: https://www.spinny.com/


Photo: https://mma.prnewswire.com/media/2285891/Spinny_Parks.jpg

Logo: https://mma.prnewswire.com/media/2096514/Spinny_Logo.jpg


 


 









Cision View original content to download multimedia:https://www.prnewswire.com/in/news-releases/spinny-shares-used-car-trends-in-q3-2023-with-spinny-parks-serving-more-than-50-of-deliveries-301998726.html




Disclaimer: This is syndicated feed from PR agency and any legal liability for the content is theirs only.

More News
Supply disruptions amid risk aversion and high interest rates tilt the scale against SMEs: Dun & Bradstreet

Supply disruptions amid risk aversion and high interest rates tilt the scale against SMEs: Dun & Bradstreet

26 Feb 2024 | 1:15 PM

Supply disruptions amid risk aversion and high interest rates tilt the scale against SMEs: Dun & Bradstreet

see more..
Nabstract Showcases its CAMARA API Connector at the MWC 2024

Nabstract Showcases its CAMARA API Connector at the MWC 2024

26 Feb 2024 | 11:56 AM

Nabstract Showcases its CAMARA API Connector at the MWC 2024

see more..

Sealmatic Shines at EGYPES 2024 Exhibition

26 Feb 2024 | 10:00 AM

Sealmatic Shines at EGYPES 2024 Exhibition

see more..
YCO Commemorative Stamp launched as national recognition of international Youth Culinary Diplomacy

YCO Commemorative Stamp launched as national recognition of international Youth Culinary Diplomacy

24 Feb 2024 | 11:25 PM

YCO Commemorative Stamp launched as national recognition of international Youth Culinary Diplomacy

see more..
NMTronics India Pvt  Ltd  and IIT Kanpur introduce the

NMTronics India Pvt Ltd and IIT Kanpur introduce the "NMTronics Center of Excellence for Electronics Manufacturing & Skills Development" in IITK Campus aimed at promoting accessibility to cutting-edge electronics manufacturing technologies

24 Feb 2024 | 10:00 AM

NMTronics India Pvt. Ltd. and IIT Kanpur introduce the "NMTronics Center of Excellence for Electronics Manufacturing & Skills Development" in IITK Campus aimed at promoting accessibility to cutting-edge electronics manufacturing technologies

see more..
image