CARS24 Emerges as Hyderabad Go-To for Used Cars

Hyderabad 05th September 2023: As the Indian automobile landscape evolves, one city stands out with an extraordinary surge in the demand for pre-owned vehicles, a phenomenon being driven by CARS24, India's leading AutoTech Company. In the first half of 2023, Hyderabad experienced an impressive 156 percent increase in used car sales compared to the previous year, signifying a remarkable shift in consumer preferences towards savvy and cost-effective vehicle ownership.

Hyderabad, in recent times, has witnessed a notable paradigm shift in the perception of car ownership, particularly among the younger demographic. This transformative trend is attributed to the increasing choices available to consumers via streamlined and efficient platforms such as CARS24. The surge in used car transactions in the city reflects a shared understanding of the economic advantages, convenience, and accessibility that come with pre-owned vehicles.

Since its launch in Telangana in 2016,, starting in Hyderabad, CARS24 has swiftly expanded its presence and now serves customers in four cities across the state. This presence has firmly established CARS24 as the preferred destination for both automobile enthusiasts and sellers alike, triggering a significant transformation in the pre-owned vehicle market.

The automobile sector in Hyderabad has witnessed significant growth, thanks to government investments in road infrastructure. The progress in Telangana's highway network is evident with the foundation stone laid for four key highway projects. These projects, including Akkalkot Kurnool, Mahabubnagar Chincholi, Kalwakurthy Kollapur, and Khammam Devarapalle sections, are driving development with investments of Rs 2,300 crore, Rs 1,300 crore, Rs 900 crore, and Rs 2,700 crore respectively. Amidst these advancements, CARS24 has established itself as a reliable brand in Telangana's automotive industry.

"The substantial increase in used car sales is a promising indicator of Hyderabad's dynamic automobile market." noted Gajendra Jangid, Co-Founder of CARS24. "However, it signifies more than just a preference for pre-owned vehicles; it represents a broader shift in consumer mindset that is contributing to the reshaping of various sectors. This trend underscores a growing emphasis on practicality and cost-effectiveness, echoing a mindset that's actively influencing the future direction of our economy."

New data released by CARS24 sheds light on the ever-changing pre-owned car market in Telangana. This data, collected from various cities, reveals interesting trends influenced by local demand and customer preferences.

Make it Swift : Maruti Suzuki Dominates Telangana’s Used Car Market!

Maruti Suzuki continues to assert its strong presence in Telangana, especially in Hyderabad, reaffirming its dominance in the automobile sector. In the first half of 2023, Maruti Suzuki secured the highest number of car sales, with the Maruti Suzuki Swift, Wagon R, Alto 800 and Baleno standing out as the preferred models.Their affordability, practicality, fuel efficiency, and compact design aligns well with the preferences of car buyers in Hyderabad, further solidifying Maruti Suzuki's esteemed reputation in the state's automobile market.

Hatchback Models: Swift, Baleno, i20, and Kwid Lead the Way as Top Choices in Telangana

Telangana's car market is undergoing a notable transformation, with practicality becoming the key driver. Customers are broadening their choices, leading to increased demand for models like the Renault Kwid, Hyundai Elite i20 City, and Volkswagen Polo, departing from conventional preferences. This shift reflects the preferences of Telangana's predominantly youthful buyer demographic, with the average age being under 35. They prioritize practicality for their daily commutes to work, college, and other engagements, seeking vehicles that offer reliability and comfort for their families. This growing trend emphasizes a practical approach in the car market, where functionality and value take precedence. 

Hatchback models have emerged as the preferred choice, not only for their affordability, with many priced under INR 6 lakhs but also for their efficient use of space and fuel economy, making them the perfect fit for the region's urban landscape.

Mileage Remains the Top Concern for Telangana's Car Buyers

While there's a noticeable shift towards premium cars in Hyderabad, one crucial factor still dominates the minds of car buyers in the city: mileage. In the first half of 2023, prospective buyers in Hyderabad were consistently enquiring about the mileage and fuel efficiency of various cars, with this question cropping up every 2 minutes. The most frequently asked question remained, "what is the average of this car?"

Interestingly, alongside mileage, premium features like airbags, driver assist systems, autoplay music systems, large screens, sunroofs, and more gained popularity, indicating that Hyderabad's car buyers are willing to invest in added comforts and advanced technologies. Another noteworthy shift in Hyderabad's car market was the surge in people opting for cars in different colors, moving beyond the traditional white and gray choices. These trends are expected to grow as buyers seek not only efficiency but also enhanced driving experience.

Car Financing Gains Ground in Telangana: Zero Down Payment Offers Convenience and Flexibility!

Car financing is becoming increasingly popular among Telangana's car buyers, as more individuals opt for this convenient approach to own their desired vehicles. To enhance this appeal, CARS24 introduces a zero down payment choice, simplifying the purchasing process even further. In fact, Hyderabad market has recorded a 142 percent increase in cars financed in Hyderabad in the first half of 2023 in comparison to the same time last year. Data analysis highlights salaried professionals as the main group of loan applicants, with an average monthly installment (EMI) of ₹11,500 and a preferred 6-year financing period. This rising trend not only grants buyers more flexibility but also eases payment commitments, making car ownership more attainable and manageable.

The availability of financing options is driving more millennials to purchase cars, with a majority of buyers under 35 years old.

CARS24 Transforms Car Sales: People of Hyderabad Sold Cars Worth INR 103 Crores in April-June Quarter

CARS24's data reveals a remarkable milestone in Hyderabad's car market, with people from the state selling cars worth over INR 103 crores on the platform in the April-June Quarter. 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.

Fun Fact:  The maximum cars sold by the people of Hyderabad were also by Maruti.

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.

About CARS24

Founded in 205, CARS24 is a leading AutoTech company streamlining and revolutionizing the sale, purchase, and financing of pre-owned cars in India, Australia, Thailand, and UAE. Leveraging cutting-edge technology, that includes a Smart AI Pricing Engine, and the largest dealer network, CARS24 ensures that selling pre-owned vehicles is seamless and transparent. CARS24 Financial Services Private Limited, is a professionally managed Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India, offering customer focused value added services.