Spinny Max, the used car buying and selling platform exclusively for used luxury cars, shares its insights on how the market is opening up to the growing demand for used luxury vehicles in India.
New Delhi, NFAPost: The used car buying and selling business has seen tremendous growth in the last few years. One platform that can say so with surety is Spinny Max.
The market leader in the used car industry has relevant data to prove that pre-owned luxury cars are seen as better value for money in India today. This can be seen with the high scale purchase of used BMW cars across the country.
Listed below are some of the findings made by Spinny Max who have plenty to say regarding the growing demand for used luxury cars in the country:
First-Time Ownership:
It was noted that 54% of Spinny Max buyers bought their very first Spinny-Assured luxury car from them. This means that a majority of their buyers believe in the concept of luxury used car purchases, indicating the growing demand for their services.
Average Buyer Age:
Spinny Max was quick to note that the average age of buyers looking for used luxury cars in India is approximately 38 years. Since this number lies in the largest age group in India, consisting of 67.45% of the population, the growing demand among young Indians is inevitable.
The Preferred Brands:
As the used luxury car market is getting more transparent and organised, consumers are fulfilling their dreams of owning a luxury car, that too from the comfort of their homes. According to the Spinny Max Q3 report for 2022, used Audi cars, along with BMW & Mercedes, lead the chart in terms of preferred brands. With reference to the car models, second hand Mercedes Benz C-Class and BMW 3 series remain the top favourite among consumers.
Access to Luxury Vehicles at an Affordable Price Point: Pre-owned luxury cars are also seen as better value for money as they allow buyers to enter the luxury segment at a much more reasonable price point rather than purchasing a brand-new vehicle.
Spinny Max Vice President Parag Raheja says Used luxury car sales in metro cities are primarily driven by metro cities. Interestingly, even tier 2 and 3 cities are now experiencing substantial traction in this segment as well.
“With the rise of organised and trustworthy retail platforms that offer premium experiences and services such as pan-India home delivery. In the coming years, Spinny Max expects the trend to grow,” said Spinny Max Vice President Parag Raheja.
About Spinny
Founded in 2015, Spinny is a full-stack used car retailing platform that aims to bring about transparency and convenience in buying and selling pre-owned cars. As a testimony of Spinny’s commitment to transparency and quality, every vehicle on their platform comes with a 200-point inspection checklist, 5-day money-back guarantee, and 1-year after-sales warranty.
Spinny has about 36 car hubs operating across 22 cities in India. Last year, Indian cricket legend Sachin Tendulkar partnered with Spinny as a strategic investor and a lead brand ambassador. Sports icon, PV Sindhu, a believer & customer of Spinny, is also a part of a series of marketing initiatives focused on realising the aspirations of a billion car dreams.
