ANI PR Wire
10 Aug 2022, 14:00 GMT+10
Gurugram (Haryana) [India], August 10 (ANI/PRNewswire): There are several trends continuously shaping the automobile industry in the wake of growing consumer demands.
The used car market in India is presently growing at a compounded annual growth of 11 per cent, which is sure to further flourish and advance in the future.
Spinny is one of the most trusted marketplace for buying and selling used cars, playing a precursor to the changing automobile industry.
Recently, Niraj Singh, the Founder and CEO of Spinny, also shared his insights about the trends and expectations that are slated to be witnessed in this changing automobile industry.
Some of the key takeaways from his knowledgeable insights are detailed below.
Trends Observed in the Automotive Industry in 2022
Rise of E-commerce
Because of digital channels, online car sales have increased significantly. To meet buyers' demand for faster transactions with minimal documentation, digital players have entered the industry. This has led the automotive industry to become more professional and organised. As a result, the customers' trust and transparency quotient is increased, allowing them to make faster transactions.
Increased Reliability on Used Cars
Apart from changes in customer preferences, the price factor, need for personal mobility, and high availability of second hand cars have contributed to the rise in buying pre-owned vehicles. Moreover, the presence of trusted retailers that are using modern technologies to enhance customers' experience and improve transparency has given the pre-owned vehicle market great momentum.
Increased Use of Effective Digital Marketing Strategies
Marketing is an extremely important function of businesses, and with the growing digital platforms, it is essential to formulate innovative strategies online.
The players in the automotive industry are already developing creative campaigns on social media platforms and websites to be ahead of the competition.
Hassle-free Customer Experience
Users want an easy, reliable and convenient option to buy cars online from the comfort of their home. Not only do they look for a hassle-free experience but also transparency. The new-age startups, like Spinny, have made this come true by digitising the sales of second hand cars in Mumbai, Bangalore, Ahmedabad, and many other major cities in India.
Under full-stack platforms, the selling process is simple, where customers can view the vehicles' photos, model details and maintenance history through comprehensive reports. This permits customers to have precise information on the vehicle's current state, which is further backed by transparent pricing. This gives customers an absolute advantage when buying used cars in India.
Future of the Used Car Industry
According to a report by JM Financial, the automotive industry will be regulated by a hybrid business model in automobile sales, which will be progressive for the overall sector. Further, the report reveals that the D2C business model is expected to see a surge in online sales in 2022.
Founded in 2015, Spinny is a used car retailing platform that aims to bring about transparency and convenience in buying and selling pre-owned cars. As a testimony of Spinny's commitment to transparency and quality, every vehicle on their platform comes with a 200-point inspection checklist, 5-day money-back guarantee, and 1-year after-sales warranty.
Spinny has about 36 car hubs operating across 22 cities in India. Last year, Indian cricket legend Sachin Tendulkar partnered with Spinny as a strategic investor and a lead brand ambassador. Sports icon, PV Sindhu, a believer & customer of Spinny, is also a part of a series of marketing initiatives focused on realizing the aspirations of a billion car dreams.
For more information visit our website: https://www.spinny.com/ or click here to download the app.
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)
Get a daily dose of Nepal National news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nepal National.
More InformationFRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...
SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
Nearly three months after a devastating earthquake struck Myanmar, the country remains trapped in a deepening crisis, compounded by...
Kabul [Afghanistan], July 5 (ANI): A large number of Afghans recently deported from Iran are facing severe challenges, including homelessness,...
Kathmandu [Nepal], July 5 (ANI): The Nagarik Unmukti Party has decided to walk out of the ruling alliance led by Nepal Prime Minister...
Raipur (Chhattisgarh) [India], July 5 (ANI): BJP MP Sudhanshu Trivedi on Saturday slammed Congress MP Rahul Gandhi over his remarks...
Birmingham [UK], July 5 (ANI): Indian skipper Shubman Gill concluded a record-breaking Birmingham Test against England with breathtaking...