Spinny reports 20 pc rise in sales to 1,000 units in festive season

The company also said its network expansion plans, which were put on hold owing to the pandemic, are also back on the track, with Mumbai, Chennai, Lucknow, and Ahmedabad set to be the next destination. Spinny is currently operational in Delhi, Noida, Gurgaon, Bengaluru, Hyderabad and Pune.

Online used car retailing platform Spinny on Friday said its peak festive season sales surged 20 per cent to 1,000 units this year, and the total sales till October stood at 6,000 units. The company also said its network expansion plans, which were put on hold owing to the pandemic, are also back on the track, with Mumbai, Chennai, Lucknow, and Ahmedabad set to be the next destination.

Spinny is currently operational in Delhi, Noida, Gurgaon, Bengaluru, Hyderabad and Pune. "With the right product, an attractive price point, extra care initiatives, and an unstinting, thorough overhaul of standard used-car prices existing in the industry, Spinny has recorded sales of over 6,000 cars till October 2020. "With a 20 per cent increase in sales vis-a-vis last year, the platform registered a sale of over 1,000 cars during the peak of the festive season from the last week of October to mid-November," Spinny said in a release.

Additionally, the company has a 30 per cent growth in demand for used cars on its platform, it said. "This festive season brought a major uptick in demand for used cars as opposed to the traditional concept of buying a new car," Spinny Co-Founder Niraj Singh said.

Spinny is all set to expand its footprint to Mumbai, Chennai, Lucknow, and Ahmedabad. These plans were put on hold due to the pandemic-induced lockdowns, it said. People have increasingly started to prefer personal mobility solutions and the used-car market has proven to be a viable option amid the pandemic, the company said.

Against this backdrop, Spinny's assured quality, safety and sanitisation measures, and fixed pricing have been fervently welcomed by happy customers, it added. Over 50 per cent of all cars sold on the platform fall within the Rs five-seven lakh bracket, with Bengaluru accounting for more than half of the sales, followed by Delhi NCR at 35 per cent. The remaining sales came from Pune and Hyderabad.

"Today's car-buyers are digitally proficient and demand value for money and enjoy honesty, relatability, and reliability over transactional corporate interactions. This is where Spinny has an edge over other players in the market," Singh said.

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