The growing popularity of online marketplaces and digital platforms for buying and selling used cars contributed to making the entire process convenient. Indians spend just 3 hours on average researching cars online, with the ability to browse an extensive selection of vehicles with transparent pricing, according to a report by CARS24.
In Q1 2023, Maruti Suzuki continued to dominate the used car market, maintaining its pole position as the top searched brand on the platform and leading the pack in terms of the most cars sold. The platform reported that Maruti Swift hatchbacks, which include the Swift and Baleno, were the most popular Maruti cars sold in Q1 2023. Out of the total cars bought on CARS24 in Q1, 40% were Maruti, with a majority of buyers coming from Lucknow, Patna, Kochi, Surat, and Chandigarh. Maruti’s performance was closely followed by Hyundai, Honda, and Renault.
The first quarter of the calendar year 2023, saw a growth in demand for used cars across the country. The report recorded a massive 100% jump in sales in January-March, 2023 as compared to the same previous period. Gajendra Jangid, Co-Founder of CARS24, said, “With the resumption of work from the office and the importance of personal mobility, the second-hand car market is experiencing remarkable growth across India. Our observation of this emerging trend has us excited to embark on this journey with our customers and revolutionize the way India approaches the used car market.”
Uttar Pradesh and Delhi are the two leading states in India in terms of registered electric vehicles. Even after being discontinued, the Volkswagen Polo remained among the top searches conducted by users. According to sources, 42% of cars sold in 2022 were white, and white cars remain the top choice among Indians when purchasing a pre-owned car.
