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- Spinny Max is an online retail platform for buying and selling used luxury cars and Parag Raheja, Vice President, Spinny Max, says that the demand for used luxury cars is increasing at an steady rate in tier 2 and tier 3 cities. Given below are excerpts from carandbike’s interview with Raheja, who heads the used luxury car business at Spinny Max. The interview gives us insight into the increase in demand for used luxury cars in the not so big cities of India. - Source: Internet
- Parag Raheja: With the used luxury car market getting more transparent & organised, consumers are fulfilling their dreams of owning a luxury car in a confident & joyous way. According to the Spinny Max Q3 report, Audi, BMW & Mercedes lead the chart in terms of preferred brands. With reference to the car models, Audi Q3, Mercedes-Benz C-Class & BMW 3 series remain the top favourite among the consumers. - Source: Internet
- Pre-owned luxury cars are also seen as better value for money as they allow buyers to enter the luxury segment at a much more reasonable price than a new luxury car. In addition, used luxury vehicles on the pre-owned market tend to have a lower average age compared to mid-size or small-scale vehicles, making them a viable option. The luxury used car market previously saw traction only from metropolises, but now buyers from smaller cities are also buying these vehicles. The rise in demand is due to consumers’ preference for luxury cars and the country’s youth’s inclination toward the top brands. - Source: Internet
- In countries like India, where the disposable incomes of upper middle-class people have grown over the years, professionals aged 30-40 are starting to aspire to buy luxury cars much earlier in life. As a result, we see a surge in demand for used luxury cars in metro cities. Used luxury car sales in metro cities are primarily driven by metro cities. Interestingly, even tier 2 and 3 cities are now experiencing substantial traction in this segment as well with the rise of organised and trustworthy retail platforms that offer premium experience and services such as pan-India home delivery. In the coming years, we expect the trend to grow. - Source: Internet
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