- CARS24 noted an 87% surge in used car sales, amounting to Rs 1760 crores, during the festive season from Onam to Diwali compared to the previous year.
- Despite government encouragement for electric vehicles, 87% of buyers opted for petrol cars due to lower initial costs, reduced maintenance expenses, and longer permissible lifespans on roads compared to diesel vehicles.
- Millennials showed increased interest in car ownership, driven by affordable options, flexible financing, extended warranties, and special deals on quality used cars.
- Regional sales highlights included Bengaluru leading in car sales, Mumbai and Pune witnessing doubled purchases during Ganesh Chaturthi, and Ahmedabad and Delhi experiencing a 67% surge in car sales during Navratri.
- CARS24 observed a financing trend, disbursing an average daily loan amount of Rs 4.7 crore, with significant participation from young salaried professionals under 35 years old. Tier 2 cities displayed higher financing intent, with 7 out of 10 cars being financed.