Chennai, 22 August, 2023: Tamil Nadu is witnessing a significant rise in the demand for used cars, with CARS24, the leading AutoTech company in India, leading the way in promoting smart vehicle ownership. In fact, in the initial six months of 2023, the area experienced a noteworthy 80 percent surge in sales of pre-owned cars, indicating a growing preference for second-hand vehicles. As the favored option among car enthusiasts in the state, CARS24 remains at the forefront, setting benchmarks in the industry by prioritizing innovation, customer contentment, and market dominance.
In Chennai, the capital of the state, there’s a notable increase in used car sales. This rise can be attributed to a transparent and efficient buying process, highlighting the benefits of intelligent car ownership. People are recognizing that used cars are cost-effective, convenient, and easily accessible. This change in trend indicates a shift in attitudes towards car ownership, with more people recognizing the value offered by the pre-owned car market.
Since its expansion in Tamil Nadu in September 2017, CARS24 has rapidly expanded its footprint, now catering to customers across twelve cities throughout the state. This extensive reach has firmly established CARS24 as the go-to destination for both car enthusiasts and sellers, catalyzing a significant transformation in the landscape of pre-owned vehicle transactions. The company’s pioneering entry in 2017 marked a pivotal moment for Tamil Nadu and Chennai’s automobile market, and its unwavering dedication to delivering superior service and exceptional value has earned it an unparalleled reputation in the industry.
Chennai’s automobile sector has experienced robust growth, fueled by strategic government investments in road infrastructure. The ongoing enhancements to road networks, such as the East Coast Road Project (ECR) and the Tambaram-Chengalpattu elevated corridor on the Grand Southern Trunk (GST) Road, have significantly improved connectivity and eased travel within and beyond the region. The National Highways Authority of India (NHAI) is set to begin construction on the Tambaram-Chengalpattu elevated corridor on the Grand Southern Trunk (GST) Road in the next few months, providing relief to vehicles traveling to central and southern parts of Tamil Nadu. The project is estimated to cost Rs 3,523 crore.
“The notable increase in used car sales is a positive indicator of the changing automobile landscape in Tamil Nadu,” saidGajendraJangid, 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.”
Recent data from CARS24 provides intriguing insights into the evolving used car market in Tamil Nadu. Chennai, in particular, showcases a strong affinity for Maruti Alto 800 and other Suzuki models, with over 15000test drives booked, predominantly for Suzuki models. The average age of buyers, at 35 years, paints a clear picture of the young demographic shaping this evolving landscape.
CARS24’s data reveals a remarkable milestone in the Tamil Nadu car market, with people from the state selling cars worth over INR 222croreson the platform in the first half of 2023. The current trend of replacing cars within a few years has significantly contributed to this exponential growth. This could be due to various factors such as changing preferences, the desire to own newer models with advanced features, or the availability of attractive financing options. As a result, more people are choosing to sell their used cars, creating a vibrant market for platforms like CARS24 that offer convenience, trust, and a streamlined selling process.
With a strong presence in more than 150 plus cities across India, CARS24 is playing a pivotal role in reshaping the future of car sales and ownership, as the automobile industry embraces emerging trends and technologies.
CARS24, operates across 12 cities in Tamil Nadu including Chennai, Coimbatore, Madurai, Tiruchirappalli, Salem, Thanjavur, Pollachi, Cuddalore, Hosur, Tirunelveli, Pondicherry and Tiruppur has made a substantial impact in the region.