India’s most popular automobile transactional marketplace Droom recently released its Automobile Industry research and Trends Report. The report gives a detailed view of the trends, behaviors, and brands dominating the entire transactional segment on Droom’s online platform.
Commenting on the report, Sandeep Aggarwal, Founder & CEO, Droom, said, “The year 2018 has started on a high note at Droom. The online market for pre-owned automobiles has been on an upward growth trajectory and Droom’s dominating market leadership has been helping online adoption of this category. While Delhi, Bangalore, Hyderabad, and Mumbai remained the top 4 cities generating the highest customer engagement, emerging markets such as Faridabad, Kaithal, Surat, and Ajmer also showed promising potential for the growth of online automobile sales.”
The report reveals some interesting statistics and buying patterns from the pre-owned vehicles segment. The industry trends are collated from over 15,000 transactions that took place on Droom’s platform between Jan & March 2018.
- Four-wheelers dominated online sales for Droom, accounting for 65.5% of total sales
- Scooter and bikes together comprised 27.7% of total sales
- Supercars & Superbikes accounted for 6.4 % of total transactions
- Indian brands like Maruti Suzuki, Hero, Bajaj, and Mahindra were the most popular with 42% preference over foreign brands
- Toyota and Hyundai emerged as the most trusted foreign automobile manufacturers
The report also reveals that cars manufactured in 2010-16 were extremely popular with buyers, accounting for 83% of the overall sales. The average age of ownership for cars sold on the platform was 69 months, while, for bikes and scooters, it was 56 months and 38 months respectively. Average selling price for four-wheelers was Rs.5.78 lacs for bikes it was Rs.45.8k, for scooters it was Rs.39.5k and for luxury car it was Rs.29 Lacs.
Another interesting trend highlighted by the report was the growing awareness around the need for verification and inspection of vehicles, with a growing number of customers demanding Auto Inspection reports before making their purchases. Petrol vehicles were preferred by 56% of buyers, which might be a reflection of the increasing restrictions against diesel automobiles.
- Car – Maruti Suzuki Swift
- Bike – Bajaj Pulsar
- Scooter – Honda Activa 4G
- Superbike – Harley Davidson Street 750
- Supercar – BMW 5 Series
- Brand – Maruti Suzuki, Royal Enfield
- Delhi, Hyderabad, and Bangalore emerge as the top 3 markets
- White color cars were most preferred followed by Silver and Grey
- Black color was customer’s choice for two-wheelers
Droom is India’s first and only online marketplace for buying and selling new and used automobiles. At over 65% of the automobile transactions market share online, Droom is the largest auto portal in India. Droom is not only the largest online automobile platform in India, but also the 3rd or 4th largest E-commerce company in India in terms of GMV. The automobile platform is category, seller, price, condition, and geography agnostic.