The Maruti Swift, Renault Kwid and Hyundai Grand i10 were the most sold used cars in 2024, according to Spinny’s annual report. The Swift replaced the Baleno in the top rankings, while the Renault Kwid topped the sales charts in the used car market.
- The top 3 places for used cars were Bengaluru, Delhi-NCR and Hyderabad
- Manual cars accounted for 76 percent of buyers (including males and females)
- White, grey and red were the most in-demand colours
Spinny’s report also says that used car buyers preferred brands like Honda, Maruti and Hyundai. Hatchbacks dominated sales due to their compact size and lower maintenance costs, whereas compact SUVs, such as the Ford EcoSport (now discontinued), registered a 20 percent growth.
Women's share in used cars, fuel and finance options
Women customers accounted for a 26 percent of the used car market share last year. Automatic hatchbacks were the most bought at 60 percent, followed by 18 percent of women buyers going for compact SUVs, it further stated.
Petrol cars accounted for 82 percent of all car purchases, followed by diesel cars with a 12 percent share. CNG cars represented 4 percent, and electric vehicles made up 2 percent. The top three places for used car sales were Bengaluru, Delhi-NCR, and Hyderabad.
Last year, 22 percent of buyers upgraded their cars compared to 12 percent in the year-ago period, making for an 83 percent increase. Additionally, financing options were chosen by 56 percent of buyers, with the majority (60 percent) aged between 25 and 30 years.
Used car buyers average age
The average age of used car buyers dropped to 32 years in 2024, compared to 34 years in 2023. Notably, 76 percent of buyers were first-time car owners, up from 73 percent the previous year. The overall 4 percent increase showed a growing interest in car ownership, especially among younger buyers.
Hormazd Sorabjee
Sahil Kukreja
