Pre-owned luxury sports cars most preferred in Hyderabad
Hyderabad: Whether it is the Rolls Royces or BMWs or Porsches, the city of Nizams has a growing affinity towards luxury high-end cars. With the growing aspirations of Hyderabadis, many luxury car brands have made their presence in the city. And now with the younger generations’ interest in luxury cars, sports cars are the most […]
Hyderabad: Whether it is the Rolls Royces or BMWs or Porsches, the city of Nizams has a growing affinity towards luxury high-end cars. With the growing aspirations of Hyderabadis, many luxury car brands have made their presence in the city. And now with the younger generations’ interest in luxury cars, sports cars are the most preferred in Hyderabad.
According to an analysis by Boys and Machines, about 60 per cent of demand in Hyderabad from their pre-owned luxury car range is for sports cars. “We are seeing a growing interest among young buyers in Hyderabad towards luxury sports cars and new models are being preferred. When compared to luxury SUVs or sedans, about 60 per cent of the demand is for high-end sports cars. Ferrari and Lamborghinis are the most preferred in the city in the high-priced sports car segment,” says Siddharth Chaturvedi, founder, and MD, Boys and Machines.
The company opened its outlet in Hyderabad last year and since then it has received a positive response from luxury car buyers. Chaturvedi also added that in cities like Mumbai luxury SUVs are preferred while in the northern region the demand is for a mix of luxury SUVs, sedans, and sports cars.
On the pre-owned car segment, the founder mentioned that the global shortage of chips has benefitted the used car industry. “Most of the luxury cars are heavily dependent on semiconductors and this is delaying the delivery time of new cars. So, now customers are looking at the used car space to fulfill their aspirations of owning a luxury car,” says Akash Chaturvedi, CEO, Boys and Machines.
Interesting Data:
65% of luxury used car buyers are in the age of 30-40 years
40% increase in inquiries from Tier-II and Tier-III cities
15% increase in inquiries from female customers and they contribute to 10-12% of sales
What do female buyers want?
• 65% prioritise design and style
• 20% want spacious cars
• 15% look for durability and safety
Demand for used luxury cars growing at a 35-40% year-on-year basis
Organised used car market is 25% of the total car market, projected to grow by 42% in 2-3 years
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