Spinny clocks over two-fold sales growth in Jan-Aug

Online pre-owned car retailing platform Spinny has registered over two-fold year-on-year growth in car sales to 11,600 units in the January-August period this year, indicating a revival in demand in tier-I and tier-II cities.The Gurugram-based startup had sold 4,900 vehicles in the first eight months of 2020, according to the company.

Online pre-owned car retailing platform Spinny has registered over two-fold year-on-year growth in car sales to 11,600 units in the January-August period this year, indicating a revival in demand in tier-I and tier-II cities.

The Gurugram-based startup had sold 4,900 vehicles in the first eight months of 2020, according to the company. Bolstered by this steep growth, which has come on the back of retail network expansion along with resurgent demand, Spinny expects to conclude 2021 at around 28,000 units, it said. “We are observing huge demand from tier-2 cities and expect this to go beyond that. In the last six months, we have seen that there is an increased demand from women buyers for personal mobility,” said Niraj Singh, Founder-CEO, Spinny. The company is currently present across 10 markets -Delhi, Gurgram, Noida, Bangalore, Ahmedabad, Mumbai, Pune, Chennai, Hyderabad and Kolkata. The company is looking to expand to 20-25 cities by this year-end, it said. According to the platform, in the case of key car models in demand in various cities, Delhi-NCR has recorded an even spread across all models, while buyers in Mumbai and Pune are inclined towards buying premium hatchbacks and SUVs, either as first cars or upgrades. In Hyderabad, buyers prefer hatchbacks over other segments, it said, adding customers in Chennai prefer performance-oriented cars in the hatchback, sedan and SUV segments. For driving within city limits, buyers in Bangalore prefer premium hatchbacks and compact SUVs, and in Kolkata, the preference is for buying premium sedans, the company noted. When it comes to fuel preferences, people prefer buying petrol cars owing to the diesel scrappage policy, with 75 per cent of Spinny buyers opting for petrol used cars, it said, adding that the diesel cars account for 23 per cent of the total cars sold. Manual transmission is preferred in major cities, with up to 90 per cent of buyers opting for the same, it said.