Rising Car Enthusiasm in India: First-Time Buyers and Female Purchasers Surge

A recent Spinny report highlights that 67% of car buyers in India are first-time purchasers. About 30% of buyers are women. The compact SUV segment leads growth, while the majority opt for petrol cars. A significant rise in manual transmissions, financing methods, and hub deliveries was noted.

A recent report by retail platform Spinny has highlighted a significant trend among Indian car buyers: approximately 67% of them are first-time purchasers. The data, covering the period from June to August 2024, also indicates that enthusiasm for car ownership is on the rise.

Notably, about 30% of these buyers are women. The report states, "Data shows a strong rise in first-time car buyers, who make up 67% of all customers, with 30% of total buyers being women." The compact SUV segment remains the fastest-growing category with a 12% increase over the last quarter.

Furthermore, the report reveals that a dominant 83% of buyers prefer petrol cars, while diesel and compressed natural gas (CNG) models are chosen by 12% and 5% of customers respectively. The most popular car colors are red, white, and grey.

Customer trust in financing methods is increasing, as evidenced by a 60% rise in car finance adoption. In terms of delivery preferences, 82% of buyers opted to pick up their cars from the hubs of the selling platform, marking a 7% increase in hub deliveries from the previous quarter.

Niraj Singh, Founder and CEO of Spinny, commented on the trends, stating, "It's interesting how our dynamic nation continues to evolve every quarter with its diverse tastes, keeping us excited and encouraging us to enhance our services."

An intriguing shift noted in the report is the growing preference for manual transmissions, rising to 76% from 70% in the last quarter. Automatic transmissions saw a decline, dropping to 24% from 30%. Moreover, the used luxury car market has seen robust growth in urban areas, especially among young Indians, with Delhi leading this trend followed by Bengaluru and Mumbai. (ANI)

(With inputs from agencies.)