Tamil Nadu's Used Car Leader: CARS24 Sets the Standard for Quality and Trust!
Chennai:
Tamil Nadu is witnessing a significant rise in the demand for used cars, with CARS24, the leading AutoTech company in India, leading the way in promoting smart vehicle ownership. In fact, in the initial six months of 2023, the area experienced a noteworthy 80 percent surge in sales of pre-owned cars, indicating a growing preference for second-hand vehicles. As the favored option among car enthusiasts in the state, CARS24 remains at the forefront, setting benchmarks in the industry by prioritizing innovation, customer contentment, and market dominance.
In Chennai, the capital of the state, there's a notable increase in used car sales. This rise can be attributed to a transparent and efficient buying process, highlighting the benefits of intelligent car ownership. People are recognizing that used cars are cost-effective, convenient, and easily accessible. This change in trend indicates a shift in attitudes towards car ownership, with more people recognizing the value offered by the pre-owned car market. Since its expansion in Tamil Nadu in September 2017, CARS24 has rapidly expanded its footprint, now catering to customers across twelve cities throughout the state. This extensive reach has firmly established CARS24 as the go-to destination for both car enthusiasts and sellers, catalyzing a significant transformation in the landscape of pre-owned vehicle transactions.
The company's pioneering entry in 2017 marked a pivotal moment for Tamil Nadu and Chennai's automobile market, and its unwavering dedication to delivering superior service and exceptional value has earned it an unparalleled reputation in the industry. Chennai's automobile sector has experienced robust growth, fueled by strategic government investments in road infrastructure.
The ongoing enhancements to road networks, such as the East Coast Road Project (ECR) and the Tambaram-Chengalpattu elevated corridor on the Grand Southern Trunk (GST) Road, have significantly improved connectivity and eased travel within and beyond the region. The National Highways Authority of India (NHAIl) is set to begin construction on the Tambaram-Chengalpattu elevated corridor on the Grand Southern Trunk (GST) Road in the next few months, providing relief to vehicles traveling to central and southern pats of Tamil Nadu. The project is estimated to cost Rs 3,523 crore.
"The notable increase in used car sales is a positive indicator of the changing automobile landscape in Tamil Nadu," said Gajendra Jangid, Co-Founder, CARS24. "Consumers are becoming more discerning in their choices, considering not only affordability but also the long-term value and practicality of owning a used car." Recent data from CARS24 provides intriguing insights into the evolving used car market in Tamil Nadu. Chennai, in particular, showcasesa strong affinity for Maruti Alto 800 and other Suzuki models, with over 15000 test drives booked, predominantly for Suzuki models. The average age of buyers, at 35 years, paints a clear picture of the young demographic shaping this evolving landscape.
Maruti Suzuki Dominates Tamil Nadu's Used Car Market!
Maruti Suzuki continues to asset its strong presence in Tamil Nadu, especially in Chennai, reaffirming its dominance in the automobile sector. In the first half of 2023, Maruti Suzuki secured the highest number of car sales, with the Maruti Suzuki Alto 800 standing out as the preferred model. Its affordability, practicality, fuel efficiency, and compact design align welI with the preferences of car buyers in Tamil Nadu, further solidifying Maruti Suzuki's esteemed reputation in the state's automobile market.
Tamil Nadu's Car Market Embraces Pragmatism: Practicality Takes the Lead
Tamil Nadu's car market is undergoing a noteworthy transformation, with practicality takíng precedence over luxuy. While the Maruti models have been long-standing favorites, customers are now exploring a wider array of options, leading to a surge in demand for vehicles like the Renault Kwid, Honda City, and Volkswagen Polo. These models have captivated the attention of local car buyers, signifying an evolution in their preferences and a departure from conventional choices. This shift in car preferences reflects the desires of Tamil Nadu buyers, who prioritíze practicality and seek vehicles that cater to their daily commuting needs while ensuring comfort and reliability for their families. The evolving trend emphasizes a practical approach in the car market, where functionality and value outweigh extravagant features.
Hatchback Models: Swift, i10, and Kwid Lead the Way as Top Choices in Tamil Nadu
In Tamil Nadu and Chennai, hatchback models like Maruti Swift, Hyundai i10, and Renault Kwid are taking the lead as highly favored options. These compact vehicles are capturing the hearts of car buyers, offering a blend of affordability and practicality that resonates with those seeking reliable transportation solutions. With their lower price points and fuel efficiency, hatchbacks are becoming the preferred choice for individuals looking for a smart and efficient mode of commuting in the region.
Tamil Nadu Embraces Car Financing: Zero Down Payment Option Steers Convenience and Flexibility!
Car financing is experiencing a surge in popularity among Tamil Nadu car buyers, driven by the convenience it offers in realizing car ownership aspirations. In addition to this, CARS24 introduces a zero down payment option, further streamlining the purchase process.
Data analysis reveals that the average age of people preferring to buy a used car through finance their cars stands at 32 years, indicating a strong presence of working millennials, including salaried employees and young entrepreneurs The youth prefers an average monthly installment (EMI) of Z11,500 and a preferred financing duration of 6 years. This emerging trend enhances buyers' flexibility and lightens the financial burden, making car ownership more attainable and manageable. CARS24's data reveals that every 3 in 5 customers In India choose to finance their cars, highlighting the popularity of this financial approach.
CARS24 Transforms Car Sales: People of Tamil Nadu Sold Cars Worth INR 222 Crores in the first half of 2023
CARS24's data reveals a remarkable milestone in the Tamil Nadu car market, with people from the state selling cars worth over INR 222 crores on the platform in the first half of 2023. The current trend of replacing cars within a few years has significantly contributed to this exponential growth. This could be due to various factors such as changing preferences, the desire to own newer models with advanced features, or the availability of attractive financing options. As a result, more people are choosing to sell their used cars, creating a Vibrant market for platforms like CARS24 that offer convenience, trust, and a streamlined selling process. With a strong presence in more than 150 plus cities across India, CARS24 is playing a pivotal role in reshaping the future of car sales and ownership, as the automobile industry embraces emerging trends and technologies. CARS24, operates across 12 cities in Tamil Nadu including Chennai, Coimbatore, Madurai, Tiruchirappalli, Salem, Thanjavur, Pollachi, Cuddalore, Hosur, Tirunelveli, Pondicherry and Tiruppur has made a substantial impact in the region.
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