A recent report carried out by Spinny, reveals that women buyers account for over 25 per cent of total used car sales in India in Q1 2022.
View PhotosWomen buyers contributed to 26 per cent of total used car sales for Q1 2022
The demand for used cars has been rising rapidly in India and it is no secret that the number of used car sales in the country is significantly more than the number of new car sales. A recent study suggests that women buyers account for up to 26 per cent sales of used in the first quarter of 2021. In its report, Spinny says that the number of women buying used cars went up from 28 per cent to 32 per cent in the first half of 2022. There has been increased activity in tier I and tier II cities in the last few months. In fact, 12 to 15 per cent of new car buyers in India are women.
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(Hyundai i20 CVT is one of the most popular models in the used car market among women)
The reason for this growth can be attributed to financial independence preference for personal mobility over public transportation in the wake of the pandemic. The report also states that are women buyers are mostly aged between 30 and 40 years and factors like progressive gender shifts, ease of vehicle ownership and finance options, availability of many models and variants have immensely contributed towards increasing demand for women.
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(The Maruti Suzuki Baleno is yet another popular model in the used car market among women)
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The report suggested that a lot of growth and traction also comes from metro cities like Delhi NCR, Hyderabad and Bengaluru. The top models in the used car market, especially from metro cities include Hyundai i20, Maruti Suzuki Baleno, Maruti Suzuki Swift, Renault Kwid and Tata Nexon. Hatchbacks seem to be most popular with women, with SUVs coming second in order of preference. The study also says that silver and red seem to be the most popular colours among women buying used cars and an integrated music system is one of the most important features as well.
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