Olx India reported elevated demand for pre-owned automobiles throughout the current festive season in comparison with August and September 2024. Funds-friendly fashions just like the Maruti Suzuki Alto 800 and compact SUVs just like the Hyundai Creta noticed vital demand development, pushed by client preferences for affordability and practicality. This development was noticed throughout Tier 1, Tier 2, and Tier 3 markets.
Surge in budget-friendly automobile gross sales Olx India witnessed a 20% improve in demand for the Maruti Suzuki Alto 800 in Tier 1 markets throughout the festive season in comparison with the previous two months. This surge displays a rising desire for budget-friendly automobiles. The platform additionally noticed a ten% development in demand for the Hyundai Creta in Tier 2 markets, indicating client curiosity in compact SUVs.
The Maruti Suzuki Alto 800’s recognition in Tier 1 markets is attributed to shoppers prioritising affordability amid financial uncertainty. This give attention to budget-friendly choices emphasises the necessity to handle upkeep prices and adapt to doubtlessly difficult monetary occasions.
The demand for SUVs has proven a shift towards sensible and inexpensive fashions. The Hyundai Creta’s 10% demand improve in Tier 2 markets displays this desire for cost-efficient choices throughout the SUV phase. This demonstrates a transfer away from bigger, dearer SUVs in the direction of extra compact and economical selections.
The Honda Metropolis additionally skilled a ten% development in demand in Tier 2 markets, highlighting client curiosity in sedans. This implies that buyers in these markets are searching for sensible and inexpensive choices within the sedan phase. The Maruti Suzuki Ertiga noticed a 7% rise in demand in Tier 2 markets, reinforcing its recognition as a flexible household automobile.
Different widespread fashions from main manufacturers, together with the Maruti Suzuki Ertiga, Swift Dzire, and Wagon R, exhibited regular development throughout numerous markets throughout the August-October 2024 interval. This means constant client curiosity in these established fashions.
The Maruti Suzuki Swift Dzire noticed a 5% improve in demand, whereas the Maruti Suzuki Wagon R recorded a 4% improve, each in Tier 1 markets. These figures reveal sustained demand for these fashions, even amidst the rising recognition of budget-friendly and compact SUV choices.
“We’re seeing demand throughout each budget-friendly fashions and SUVs this festive season, reflecting shoppers desire in the direction of affordability and practicality,” mentioned Siddharth Agrawal, Chief Enterprise Officer – Autos, Olx India. “SUVs like Creta and Ertiga are notably resonating with consumers searching for an ideal mix of area and worth, whereas economical selections just like the Alto 800 proceed to steer amongst budget-conscious shoppers. This festive uptick highlights a broader development the place shoppers are selecting dependable and compact automobiles that meet each on a regular basis and aspirational wants.”
Tier 3 market demand In Tier 3 markets, the Maruti Suzuki Ertiga skilled a 4% improve in demand. The Hyundai Creta additionally noticed a 2% development in these markets, demonstrating continued curiosity in SUVs, even in smaller cities. These figures counsel that the demand for each sensible household automobiles and compact SUVs extends past main metropolitan areas.
Olx India’s October information signifies its continued place as a well-liked platform for budget-conscious and SUV-focused consumers. The platform supplies a spread of pre-owned automobile choices, catering to numerous client wants and budgets. This reinforces Olx India’s position in facilitating entry to inexpensive and sensible automobiles for a variety of consumers. The platform’s information additional highlights the prevailing developments within the pre-owned automobile market, with affordability and practicality driving client selections throughout the festive season.
