Women account for 46% of used cars sales in March this year; Kwid, i10 emerge top choice: Spinny

The second-hand car industry has gained significant traction among women buyers in recent years.  According to the used car retailing platform Spinny, women accounted for 46% of the share in the used-car sales in March this year. The study also observed a 31% increase in growth in Q4 FY2024.

Delhi-NCR witnessed the maximum rise in women purchasing second-hand cars at 48% in March this year, closely followed by Mumbai at 46% and Bengaluru at 41%, the report mentioned. Among the non-metro cities, women claim 20% growth in Lucknow and Jaipur in the same period.

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Among the car models, the Renault Kwid, Grand-i10, and Baleno emerged favourite among women buyers aged between 30-40 years. "'Lady Luck' promotion, offered during the month of March, featured exclusive discounts of up to ₹25,000 on car purchases. We are delighted that nowadays more women are meeting their evolving needs and embracing the second-hand car market," Niraj Singh, CEO and Founder of Spinny said.

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Spinny sees multiple factors behind the growth in used-car sales among women such as financial prudence, environmental consciousness, and a desire for greater autonomy.

In calendar year 2023, Spinny saw 71% of corporate professionals buying used cars from its platfrom. Compact SUVs remained as the preferred choice for Spinny buyers (both male and female), followed by Hatchbacks and Sedans.

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Founded in 2015, Spinny has accumulated a customer base of over two lakh so far. Spinny has 40 car hubs and is operational in 22 cities, including Delhi, Gurugram, Noida, Bangalore, Mumbai, Pune, Hyderabad, Chennai, Kolkata, Ahmedabad, Lucknow, Jaipur, Chandigarh, and Indore, among others. The company offers a 1-year after-sales warranty.  The used car market in India has been experiencing robust growth and is projected to jump from 4.6 million units in FY23 to 8 million in FY27, Spinny said.