According to the yearly report released by Spinny, a leading Indian full-stack used car platform reported a 3 per cent increase in first-time buyers of used cars in 2024, climbing to 76 per cent of customers from 73 per cent recorded in 2023. The report also mentions that 26 per cent of the customer base is women reflecting to consistent increase from previous years. 60 per cent of women buyers prefer automatic hatchbacks, while 18 per cent prefer compact SUVs.
In 2024, the top three preferred car models people opted for were, the Renault Kwid which retained its first position, the Hyundai Grand i10 was placed in the second position, and the Maruti Suzuki Swift gaining ground replacing Baleno. Hatchbacks remained popular, with compact SUVs experiencing a 20 per cent sales growth. Ford EcoSport remained a customer's favorite car.
The report says that petrol vehicles dominated the market, accounting for 82 per cent of sales, with diesel cars dropping to 12 per cent. CNG and EVs remained steady at 4 per cent and 2 per cent, respectively. Younger buyers appealed in 2024 as the average customer age dropped to 32 years, meanwhile, 22 per cent of customers upgraded their vehicles. Major cities like Bangalore, Delhi NCR, and Hyderabad contributed to the top sales.
Founder and CEO of Spinny, Niraj Singh mentioned "From delivering our first car in 2025 to over 2 lakh stories by the end of 2024, it has been a humbling journey. This growth fuels our passion to continue offering the service and experience to our customers as we move forward."
