Online survey by Gaadi.com reflects buying trends of consumers across key cities
BestMediaInfo Bureau | Delhi | January 30, 2014
In a recent survey conducted by Gaadi.com, hatchbacks from Maruti and Hyundai topped the charts as the most preferred used-car brands. Amongst Maruti Suzuki hatchbacks, Swift Dzire emerged as a clear winner followed by Alto and Wagon R. Amongst the Hyundai hatchbacks, Santro Xing led the way followed closely by the i10 and i20.
The exhaustive survey revealed that about 73 per cent of consumers were governed by the brand name of the used car while 13 per cent determined their choice basis the price points. Fuel type was also turned out to be a major factor in making the choice – with 60 per cent people opting for petrol cars and only 30 per cent going for diesel cars.
The survey revealed that the SUV and MUV segments in the used-car space are relatively in lesser demand due to new car model launches like Eco Sport, Duster, Terrano, etc., that are pulling consumers towards new cars.The A4 segment which consists of cars like the Civic, Altis and Jetta are the worst affected with very poor demand, resulting in dip in resale values
When it comes to consumer buying behaviour, the survey indicates that other than friends and relatives, the online route plays a major role in influencing the final buying decision when buying a used car. In the list of key parameters that buyers closely consider before buying a used car, Age/Year, Condition of the car/engine, Make/Model, Mileage and Past History Record stand out as the top 5 parameters. Colour and overall look also play a key role with white, silver and grey being the most preferred with more than 50 per cent of respondents preferring them.
Reiterating the change in consumer mindset, Umang Kumar, CEO of Gaadi.com, said, “The used-car industry has witnessed a huge boost over the last couple of years. Although, the overall auto industry witnessed possibly the worst slump in 10 years, the used-car segment remained intact and growing and is looking at 18-20 per cent growth rate over the next five years. The growing middle class and the changing urban transport needs have been the biggest oxidants for its growth.”
Gaadi.com is an online automotive marketplace bringing together car buyers and car sellers. New car buyers can research their car purchase while used car buyers can browse through the largest collection of inventory online. Launched in May 2008, it was acquired by MIH, a subsidiary of South African media giant Naspers, in February 2011.