As urban India continues to expand and public transport struggles to meet rising demand, the convenience, sense of freedom, and joy of owning a car have become integral to the lifestyle of young, aspirational buyers across the country.
In line with these evolving trends, Spinny, India’s leading full-stack used car platform, has released its annual report, shedding light on the key developments that have shaped the used car market throughout 2024.
A significant 76% of Spinny customers in 2024 were first-time car buyers, further solidifying the platform’s position as a top choice for new car owners. This represents a 3% increase from the previous year 73%.
The top three preferred car models saw a shift in 2024. Renault Kwid continues to be the hot favourite and Hyundai Grand i10 maintained their dominance, while Maruti Suzuki Swift entered the top three, replacing the Baleno. Hatchbacks continue to be the most preferred category across. This reflects a growing preference for compact, value-driven vehicles.
Women buyers now represent 26% of Spinny’s customer base, with the absolute number of women buyers growing steadily each year. Among them, 60% prefer automatic hatchbacks, while 18% prefer compact SUVs.
The report highlights a growing trend in online car buying, with online purchases rising to 75% in 2024, up from 70% in 2023. This shift underscores the increasing convenience and preference for digital transactions in the car-buying process. Spinny’s stronghold continues to be in major cities such as Bangalore, Delhi NCR, and Hyderabad, which remain the top contributors to sales.
Addressing the year-end trends, Niraj Singh, Founder & CEO of Spinny, shared, “From delivering our first car in 2015 to over 2 lakh stories by the end of 2024, it has been a humbling journey. This growth fuels our passion to continue offering the service and experience to our customers as we move forward.’’
