Indian Economy News

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

  • IBEF
  • April 1, 2024

The second-hand car industry has witnessed a significant rise in female buyers, with women accounting for 46% of used-car sales in March 2024, as reported by Spinny. Delhi-NCR, Mumbai, and Bengaluru experienced substantial growth in women purchasing second-hand cars, with Renault Kwid, Grand-i10, and Baleno emerging as popular choices among women aged 30-40.

Spinny attributes the surge in sales to multiple factors, including financial prudence, environmental consciousness, and a desire for greater autonomy among women. In 2023, Spinny observed 71% of corporate professionals opting for used cars, with Compact SUVs being the preferred choice, signaling a robust growth trajectory for the Indian used car market, projected to reach 8 million units by FY27 from 4.6 million units in FY23.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.