Pune, 31st July 2023: The car market in Pune, Maharashtra, has witnessed a significant shift as car buyers explore various brands beyond the traditionally dominant Maruti models. This shift is attributed to the impact of CARS24, a prominent AutoTech Company in India, which has recorded a remarkable 70 percent surge in used car sales during the first half of 2023 compared to the corresponding period last year. With its seamless facilitation of car buying and selling transactions, CARS24 has become the most trusted platform for pre-owned cars in Maharashtra, catering to a substantial customer base and enabling the exchange of a diverse range of vehicles.
Since its establishment in Maharashtra in 2015, CARS24 has experienced remarkable growth, expanding its presence to serve customers in 18 cities across the state. The people of Maharashtra have embraced the practicality, affordability, and reliability of used cars, particularly when acquired from a reliable platform like CARS24. Additionally, the rising popularity of zero-down payment financing options has contributed to the increasing demand for pre-owned vehicles, leading to the company’s rapid expansion in the region.
The growth of the automotive sector in Maharashtra has been supported by the government’s investments in road infrastructure, including projects like the Mumbai-Jaipur expressway. Moreover, the state government’s plans to establish a third agency for road work and the launch of six new Road Overbridges (ROBs) have further contributed to this development. As a result, CARS24 has emerged as a well-established and trustworthy brand in the automotive industry of Maharashtra.
Gajendra Jangid, Co-Founder of CARS24, expressed his satisfaction with the exponential growth in Maharashtra, stating, “Maharashtra’s auto market holds immense importance to us. The overwhelming response from our customers brings us joy. Our commitment is to redefine the car buying and selling experience, making it seamless and stress-free. With gratitude for their trust, we’ll keep exceeding expectations and surprising our customers.”
The latest data provided by CARS24 provides interesting insights into the dynamic used car market of Maharashtra. Different cities have shown distinct buying patterns, which indicate the influence of local demand and customer preferences.
While Maruti remains a dominant player in the automobile landscape of Maharashtra, there has been a notable shift as car buyers explore various brands beyond the traditional favorites. Models like Hyundai Grand i10, Honda City, and Volkswagen Polo have gained significant popularity, reflecting the evolving preferences of Maharashtra car buyers. Practicality, comfort, and reliability are key factors influencing their choices. This trend indicates that while Maruti continues to lead, other brands are gradually gaining popularity in the region.
Prominent models such as Maruti Wagon-R, Celerio, Baleno, and Swift, Hyundai Creta, Grand i10, Elite i20, and Honda City dominate the market in cities like Pune and Mumbai. Renault Kwid and Volkswagen Polo also enjoy significant popularity in these cities. Conversely, in Nagpur, Maruti Wagon-R and Swift, along with Hyundai Grand i10, are the preferred choices. In Nashik, Maruti Wagon-R, Baleno, Swift, and Volkswagen Polo are among the highly sought-after models.
Pune retains its position as the city with the highest car sales in Maharashtra during the first quarter of 2023, with the Maruti Wagon-R VXI 1.0 petrol variant emerging as the top choice. Praised for its affordability, practicality, fuel efficiency, and compact size, the Wagon-R VXI meets the diverse requirements of consumers in the state.
The demand for SUVs and Compact SUVs is soaring in Maharashtra, reflecting the dynamic car enthusiast market. Popular choices like Hyundai Creta, Tata Nexon, Maruti Brezza, and Kia Seltos lead the pack, offering robust performance, stylish appeal, and impressive mileage. Customers are drawn to these SUVs for their affordability, advanced features, and striking designs, making them a preferred option.
Sleek sedans are also captivating car enthusiasts in the state, with models like Maruti Swift Dzire and Ciaz making their mark across Maharashtra. Hyundai Verna, New Elantra, and Honda Civic are among the top-selling sedans in Pune, known for their style and performance. Other contenders like Volkswagen Ameo and Skoda Rapid add to the vibrant Pune car market. The resurgence of sedans can be attributed to their timeless allure, evoking sophistication, elegance, and refined style. With sleek profiles, luxurious interiors, and cutting-edge features, sedans attract discerning drivers seeking a perfect balance of comfort, performance, and prestige.
Car financing has become increasingly popular among car buyers in Maharashtra, with many opting for this option over purchasing a vehicle outright. This trend is further aided by the availability of a zero-down payment option on CARS24, which has added to the convenience of people’s lives. A majority of these loans are taken by salaried professionals, with an average EMI amount of ₹11,500 and a preferred financing tenure of 6 years. This trend allows greater flexibility and reduced payment burden for buyers in the region. The current year has seen a significant rise in the number of millennials buying cars, with the availability of financing options playing a key role in this trend. The majority of these buyers were under the age of 35, reflecting a growing preference among young consumers for car ownership. The remarkable increase in pre-owned car sales in cities like Pune underscores the significant role played by non-metro cities in the automotive market.
With operations in 18 cities in Maharashtra, including Ahmednagar, Akola, Amravati, Aurangabad, Baramati, Chandrapur, Jalgaon, Kolhapur, Latur, Mumbai, Nagpur, Nanded, Nashik, Pune,
