India Global News

According to a Cars24 report, Indians sold 30 cars every 60 minutes during the second quarter of 2023

<p>In the April through June quarter of this year, pre-owned automobile sale, buying, and financing platform CARS24 said that vehicles worth over Rs 1,800 crore were sold to its platform. As many as 30 automobiles were sold per hour throughout the quarter due to the increase in demand for used cars, according to the site.</p>
<p>In the June 2023 quarter, hatchback cars accounted for 62% of all sales, while sedans made a stylish return. Additionally, it said that a rise in the sales of used cars in Pune and Ahmedabad threatened the supremacy of metro areas in terms of automobile purchases.<img decoding=”async” class=”alignnone wp-image-85966″ src=”” alt=”” width=”1196″ height=”670″ srcset=” 300w,×84.jpg 150w” sizes=”(max-width: 1196px) 100vw, 1196px” /></p>
<p>There was a surprising increase in demand for used cars throughout the nation during the April to June quarter. Particularly CARS24, it said, had significant growth in sales at this time, with an amazing 87 percent rise over the same period in 2022.</p>
<p>The people who sold CARS24 automobiles worth Rs 1,800 crore were also noteworthy, the business said, as they demonstrated the paradigm change in Indian consumers’ faith of cutting-edge car purchasing and selling. Used vehicles have become a sensible alternative, according to CARS24, as buyers’ preferences for cost and value are expanding, and flexible financing options and extended warranties are readily available.</p>
<p>It said that the ease of using digital platforms and online markets to purchase and sell used cars has greatly enhanced the whole experience. “It is fantastic to see such a significant increase in used automobile market transactions. In fact, on our platform, 30 automobiles were sold every 60 minutes during this quarter alone. According to Gajendra Jangid, co-founder of CARS24, a number of important variables, such as changing customer tastes, the availability of increased inventory levels, and the desire to upgrade to newer models of automobiles, have all contributed to this fast rise.</p>
<p>He noted that the convergence of these interrelated variables is what has given the used automobile industry in India a boost to unprecedented heights. The procedure has grown more convenient than ever because to the simplicity of buying a vehicle online, complete with finance and delivery choices, according to CARS24. The platform claims that although hatchbacks still rule the market, sedans have been subtly planning their comeback.</p>
<p>Sedan sales saw a significant increase in the second quarter, accounting for 19% of all platform sales, the company said. In addition, non-metro cities like Pune and Ahmedabad saw a spike in the sales of used cars, challenging the dominance of metros in the auto market. According to the corporation, there has been a noticeable rise in automobile deliveries to these cities, and Kochi, Chandigarh, Patna, Lucknow, Jaipur, and Surat have all helped to drive up used car sales.</p>
<p>Bangalore, Hyderabad, Kolkata, and New Delhi were the top metropolises in terms of automobile purchases in Q2, according to the report.</p>

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