The pre-owned automotive market witnessed a surge in vendor participation, leading to a collective transaction worth of Rs 1,385 crore within the first quarter of fiscal 2024. Led by SUV lovers and millennials residing throughout the nation, the quarter witnessed a surge within the appreciation for pre-owned automobiles. Notably, non-metro markets witnessed a notable enhance in SUV gross sales. With cities corresponding to Ahmedabad, Kochi, Jaipur and Lucknow spearheading the development, the corporate reported a considerable 30 p.c surge within the gross sales of pre-owned vehicles throughout Tier-2 and Tier-3 cities.
SUVs dominate non-metro roads
Second hand SUVs witnessed a staggering 40 p.c development in gross sales this quarter within the non-metro cities. Fashions just like the Ford Ecosport and Hyundai Creta led the demand for the phase.
Whereas Maruti Suzuki continues to captivate hearts with fashions just like the Swift and Baleno within the hatchback class, fashions such because the Brezza additionally witnessed unprecedented reputation amongst patrons.
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Computerized vehicles in demand
The quarter additionally witnessed a notable 30 p.c enhance in computerized automotive gross sales, underscoring a shift in the direction of automobiles that prioritize comfort and luxurious. With options like sunroofs and superior infotainment programs changing into commonplace, shoppers are searching for a seamless driving expertise infused with cutting-edge know-how.
Additional, the report additionally highlighted that the patrons are more and more prioritizing long-term concerns corresponding to mileage and upkeep prices, reflecting a mature strategy in the direction of automotive possession. Questions relating to a automotive’s historical past, upkeep bills, and buy course of pace have gotten necessary in decision-making.
