Spinny shares used car trends in Q3 2023, with Spinny Parks serving more than 50% of deliveries

-           Spinny turns cars into celebrations by selling over 2,300 cars during the 9-day festive period of Navratri

-             Festival of Spinny continues with 600+ deliveries on the first day of Navratri

• Witnessed an increase in completely digital transactions by 21%
• 20% month-on-month growth in Pune, led by Spinny Park
• Bangalore, Delhi NCR and Hyderabad generate significant demand, with 80% of buyers opting for petrol cars
• First-time buyers consistently continue to increase demand for cars with 63%
• Grand i10 stands out as the most popular choice in metropolitan cities
• Increase in the demand for automatic compact SUVs and Hatchbacks

MUMBAI, India, Nov. 28, 2023 /PRNewswire/ -- With the growing trends and demand for second hand cars in 2023, Spinny, India's full-stack used car marketplace, has reported substantial growth in its used car sales for the third quarter of 2023. According to the quarter report, the company witnessed a rise to 63% of first-time car buyers across India from August 2023 to October 2023 compared to 57% in Q2 2023 indicating a growing interest and trust in Spinny.

Starting the festive season with excitement, Spinny delivered over 600 cars on the first day of Navaratri. The company saw significant growth, by selling over 2300 cars during the 9-day festive period. This trend is likely to continue as Dhanteras and Diwali approaches.

With easy financing options, rapid digitalization, an increased need for personal mobility, lesser cost of ownership, etc. acting as growth drivers. While hatchbacks remained the most preferred option for Spinny buyers, there's a growing demand for compact and luxury SUVs. When it comes to colors, while Delhi NCR prefers white, silver, and grey, red emerges as a popular choice among buyers of second hand cars in Mumbai, Kolkata, Bangalore, and Chennai, alongside white and grey.

Commenting on the rise in demand for used cars on its platform, Niraj Singh, Founder & CEO, Spinny, said "At Spinny, we believe in not just selling cars but enhancing the car buying journey. We've gone the extra mile by pushing a complete hybrid model that's flexible to online to offline methods, our relentless commitment to a customer's comfort and convenience. With over 600+ deliveries on the first day of Navratri, it's a testament to playing a small part in big celebrations of customers. The trust in Spinny keeps pushing to set benchmarks in car ownership in the country".

In the last two years, Spinny's customer base has risen to over 2 lakhs, with over 57 operational car hubs, including the Spinny Max category and Spinny Park experiential spaces across the country with a total assortment of 20,000+ cars.

Regarding trends in luxury used cars, the Max category has seen the highest demand in the Delhi NCR region, followed by Bangalore and Mumbai. The company saw a consistent demand for luxury brands like Jeep, BMW, and Mercedes-Benz, with the BMW X1 Series, and Mercedes-Benz C-Class being the most popular models. Among luxury car buyers, black, blue, and red are the top colour choices.

About Spinny

Founded in 2015, Spinny is a used car retailing platform that aims to bring about transparency and convenience in the car buying and selling process in India. Spinny operates across the entire value chain of used cars, embedding superior technology and processes to deliver a premium experience to customers. As a testimony of Spinny's commitment to transparency and quality, every car on the Spinny platform comes with a 200-point inspection checklist, a 5-day no-questions-asked money-back guarantee and a 1-year after-sales warranty. Spinny has 57 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. Last year, Indian cricket legend Sachin Tendulkar partnered with Spinny as a strategic investor and a lead brand ambassador. Sports icon, PV Sindhu, a believer and customer of Spinny, is also a part of the series of marketing initiatives focused on realising the aspirations of a billion car dreams.

For more information visit: https://www.spinny.com/

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