Kolkata witnesses 93% YoY surge in used car sales: Report

During the first half of 2023, the region experienced a massive surge of 93 percent in used car sales compared to the previous year, reflecting a significant trend of individuals opting for pre-owned vehicles, it said.

The surge in used car purchases in Kolkata is a reflection of the changing attitudes towards car ownership and the recognition of the value provided by the pre-owned car market, CARS24 said in a press release.

CARS24 serves customers in nine cities across the state and serves as a platform for car enthusiasts and sellers, bringing about a significant transformation in the pre-owned vehicle transactions landscape.

Data analysis reveals that salaried professionals dominate the pool of loan applicants, with an average monthly installment (EMI) of Rs11,500 and a preferred financing tenure of 6 years.

“This growing trend not only provides buyers with greater flexibility but also lightens the payment burden, making car ownership more accessible and manageable

Owing to the availability of financing options, more millennials are buying a car with a majority of buyers under 35 years old.

In Kolkata, the Maruti Wagon R, Swift, Alto 800, and Hyundai Xcent, Grand i10, Eon emerge as popular choices, showcasing a strong affinity for these models.

The automotive sector in Kolkata has witnessed significant growth, thanks to strategic government investments in road infrastructure.

Meanwhile, in Howrah, the Maruti Swift and Honda Amaze are in high demand, reflecting the city's unique preferences. As for Siliguri, we see a robust demand for hatchbacks such as WagonR and Swift.

Notably, the Ministry's approval of Rs 812.50 crore for the NH-116B Widening-cum-Strengthening project in West Bengal has further improved connectivity.

Moreover, the state government's Pathashree-Rastashree project to develop 12,000km of roads across 22 districts has contributed to this progress.

"The notable increase in used car sales is a positive indicator of the changing automotive landscape in Kolkata," 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."

The data across various cities reveals distinct buying patterns, shedding light on the influence of local demand and customer preferences.

In a display of market dominance, Maruti Suzuki continues to solidify its position as the preferred brand in West Bengal, especially in cities like Kolkata, Howrah, and Siliguri.

During the first quarter of 2023, Maruti Suzuki secured the highest number of car sales, reaffirming its unrivaled popularity among consumers. Among the various models, the Maruti Suzuki Wagon-R emerged as the top choice, captivating customers with its affordability, practicality, fuel efficiency, and compact size.

This exceptional model perfectly aligns with the preferences and requirements of car buyers in West Bengal, further cementing Maruti Suzuki's road royalty status in the state.

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.

This shift in car preferences reflects the desires of West Bengal buyers, who prioritize practicality and seek vehicles that cater to their daily commuting needs while ensuring comfort and reliability for their families.

The SUV trend is sweeping West Bengal, and Kolkata's car market is at the forefront of this exciting shift, leading to a significant upswing in demand.

Renowned brands like Mahindra, Hyundai, and Maruti are capturing the attention of enthusiasts with their impressive models like the XUV 500, Creta, and S-Cross.

Not to be outdone, Ford, Renault, Toyota, MG, Nissan, and Kia are also offering noteworthy contenders in this fiercely competitive market. With such a diverse range of options available, Kolkata's car market is a haven for dynamic car enthusiasts seeking the perfect SUV to suit their tastes and lifestyles.

Kolkata's pre-owned car market is witnessing an exhilarating surge in the demand for sedans, captivating car enthusiasts all over the city.

While SUVs reign supreme, sedans like the renowned Maruti Swift Dzire are capturing hearts with their unwavering reliability and impressive fuel efficiency, making them a popular choice among discerning buyers. But the allure of sedans doesn't end there.

The Toyota Etios and Hyundai Verna, Aura, and New Elantra are among the top contenders, offering a perfect blend of style, performance, and modern features that elevate the driving experience to new heights.

Car enthusiasts are exploring other sought-after sedans such as the sophisticated Maruti Ciaz, the elegant Toyota Corolla Altis, the sporty Volkswagen Vento, and the iconic Honda Civic and Honda City.

Car financing has witnessed a remarkable surge in popularity among car buyers in West Bengal, as an increasing number of individuals opt for this convenient method to purchase their dream vehicles.

“Adding to the appeal, CARS24 offers a zero down payment option, further simplifying the buying process for customers,” the company said.

CARS24's DriveTime Quarterly Report reveals a remarkable milestone in the Indian car market, with consumers selling cars worth over Rs 1255 crores on the platform within a mere 90 days of 2023.

CARS24 operates across 9 cities in West Bengal including Asansol, Durgapur, Hooghly, Howrah, Jalpaiguri, Kolkata, Nadia, North 24 Parganas, Siliguri, has made a substantial impact in the region.