The used car industry has seen an increase in the number of women buyers over the last few years. As per a report by used car retailing platform Spinny, in March 2024, women accounted for 46% of used car buyers in India. The study also found a 31% increase in women buyers in Q4 FY24.
In Q3 FY24, women accounted for 35% of buyers across the country in used car sales.
Among metro cities, Delhi-NCR observed the highest increase in women buyers at 48%, followed closely by Bengaluru at 41%, Mumbai at 46%, and Pune at 39% in March 2024, as per the report. In southern India, Kochi saw a 57% increase in women purchasing Spinny cars. Non-metro cities like Lucknow and Jaipur witnessed 20% growth in women buyers in the same period.
Women buyers aged 30-40 years, preferred car models like the Renault Kwid, Hyundai Grand-i10, and Maruti Suzuki Baleno.
Niraj Singh, CEO and Founder of Spinny said, “(Our) ‘Lady Luck' promotion, offered during the month of March, featured exclusive discounts of up to ₹25,000 on car purchases. The response from both men and women has been overwhelmingly positive, reinforcing our commitment to inclusivity and progress in the automotive industry.”
Singh added, “We are delighted that nowadays more women are meeting their evolving needs and embracing the secondhand car market.”
In its analysis, Spinny found a variety of factors responsible for the increase in used car sales among women, ranging from financial prudence to environmental consciousness and a desire for greater autonomy. In its release, the company said, “Spinny remains committed to providing tailored solutions and exceptional service to meet their evolving needs.”
Founded in 2015, Spinny has 40 car hubs and is operational in 22 cities, including Delhi, Gurugram, Noida, Bangalore, Mumbai, Pune, Hyderabad, Chennai, Kolkata, Ahmedabad, Lucknow, Jaipur, Chandigarh, and Indore, among others.
