SUVs become top choice for 40 percent used-car buyers in non-metro Indian cities, these models in demand: Report

Apr16,2024



The Indian automobile industry is flourishing with users showing significant interest in modern, feature-rich vehicles as well as a paradigm shift towards adoption. suv, Even in the used car market this segment is continuously growing. According to Cars24 quarterly reportQ4 FY2024 ending March 31, 2024, saw a similar pattern.
The pre-owned car market witnessed an increase in participation from sellers, resulting in a collective transaction value of Rs 1,385 crore in Q1FY24. Led by SUV enthusiasts and millennials living across the country, the quarter witnessed a surge in appreciation. For pre-owned vehicles, Notably, non-metro markets witnessed significant growth in SUV sales. Leading the trend in cities like Ahmedabad, Kochi, Jaipur and Lucknow, the company has recorded a substantial growth of 30 per cent in pre-owned car sales in tier-2 and tier-3 cities.
SUVs dominate non-metro roads
Second-hand SUV sales in non-metro cities witnessed a staggering 40 percent growth in the quarter. Models like Ford EcoSport and Hyundai Creta led the demand for this segment.
While Maruti Suzuki continues to win hearts in the hatchback category with models like the Swift and Baleno, models like the Brezza have also gained unprecedented popularity among buyers.

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automated vehicles in demand
The quarter saw a significant 30 percent increase in sales of self-driving cars, underscoring the shift toward vehicles that prioritize convenience and luxury. With features like sunroofs and advanced infotainment systems becoming standard, consumers are looking for a seamless driving experience with cutting-edge technology.
Additionally, the report also highlights that buyers are increasingly prioritizing long-term considerations such as mileage maintenance costs, reflects a mature attitude towards car ownership. Questions related to the car's history, maintenance expenses and speed of the purchase process are becoming important in decision making.



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