The car buying trend in India has seen a significant rise in first-time buyers, with about 67 per cent of car buyers falling into this category. A report by retail platform Spinny revealed that there has been a surge in enthusiasm for car ownership in the country, with 30 per cent of all buyers being women. The compact SUV segment has seen a notable 12 per cent growth over the last quarter, making it the highest-growing category.
The data from the report also indicated that 83 per cent of car buyers in India prefer petrol cars, while only 12 per cent opt for diesel models and 5 per cent choose compressed natural gas (CNG) cars. Red, white, and grey are the most preferred colors among car buyers. The report also highlighted a growing trend in financing options, with a 60 per cent increase in buyers opting for car finance.
In terms of delivery preferences, the report noted a significant rise in hub deliveries, with 82 per cent of buyers choosing to collect their cars from the selling platform’s hubs, compared to 18 per cent who prefer home deliveries. This marks a 7 per cent increase in hub deliveries from the previous quarter. Niraj Singh, Founder and CEO of Spinny, commented on the evolving trends, stating that the dynamic nature of the nation keeps the industry excited and motivated to enhance services.
A notable shift in preferences has been seen in the transmission choices, with 76 per cent of buyers now opting for manual transmission cars, up from 70 per cent in the previous quarter. On the other hand, automatic transmissions have seen a slight decrease to 24 per cent from 30 per cent. The report also highlighted the growth of the used luxury car market in urban areas, with a rising number of young Indians showing a preference for luxury vehicles. Delhi leads this trend, followed by Bengaluru and Mumbai.
Overall, the car buying trend in India reflects a growing interest in car ownership, particularly among first-time buyers and women. The compact SUV segment is witnessing significant growth, while petrol cars remain the preferred choice for the majority of buyers. Additionally, financing options are becoming increasingly popular, and there has been a noticeable shift towards hub deliveries. The evolving preferences in transmission choices and the rise of the used luxury car market further indicate the changing landscape of the automotive industry in India.
