New Delhi: The substantial increase in disposable income is inspiring the younger generation to explore the luxury car segment in a big way. In its analysis of the discernible trends in 2022, Spinny Max, the used luxury car segment of Spinny, attribute the rising aspirations of the young customers for luxury cars to the frequent launches of new products, increased options and transparency for the buyers, easier availability of finance, insurance, servicing, warranty options, and better awareness.
Spinny Max provides pan-India delivery home service across 250 cities and has physical hubs in Delhi NCR, Bangalore & Mumbai.
According to the year-end report 2022 by Spinny Max, BMW, Audi, and Mercedes-Benz were the most preferred brands of the consumers. Audi Q3, Mercedes-Benz C-Class, and BMW 3 series were the hot favourites. JLR and Volvo also were in demand. White, grey, and black, specifically in that order, were the favourite colours of the Spinny Max buyers. Gurugram, Delhi, Bengaluru, and Mumbai had the maximum number of buyers for luxury car brands, the report said.
Niraj Singh, founder and CEO of Spinny, said,“ Used luxury cars saw a massive uptick in 2022. The market emerged as great value for money as it allows accessible luxury. In addition, used luxury vehicles in the pre-owned market tend to have a lower average age compared to non luxury brands, making them an attractive option. Each car is thoroughly vetted and test drives and ownership, with an option of extended warranty are designed with highest levels of quality and support keeping customer delight and simplicity at the forefront.”
“We realized that with the rise in disposable incomes, professionals in the age group of 30-40 are increasingly aspiring to own luxury cars. As a result, there is a surge in demand for used luxury cars in metros as well as tier-1 cities. Interestingly, even tier 2 and 3 cities are now experiencing substantial traction in this segment, thanks to organized retail platforms that offer premium experience and services.”, he added.
Approx 5000 people test-drove Spinny cars with a C-Sat score of 93% & 70% were first-time luxury buyers, the report said.
Besides its core markets, Spinny Max shipped more than 50 cars across India to such places as Nanded (Maharashtra), Patna, Nasik, Shimla, Kozhikode. The report said that to ensure the optimum quality of products, Spinny MAX sources its stocks largely from individuals.
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