According to a Google India and Mahindra First Choice Wheels study, SUVs are the most desired vehicle. Forty-seven per cent of all searches for used cars were for them.
A study by Google India and Mahindra First Choice Wheels found that utility vehicles are the most popular in the used car section on Google India. This study report was compiled by analysing different search trends for used car queries and the actual market behaviour in India. Utility vehicles account for 47 per cent of all used car queries in India and are the main driver for online used car demand.
The utility vehicle query is followed at 20 per cent by the hatchback query, and the rest come from the sedan or luxury car segment. The trend in offline Mahindra First Choice outlets across India shows a rise in SUV demand between 6 and 10 per cent over the past three years.
The used car market has seen tremendous growth over the past six years. Google Search has seen a 20-fold increase in queries about used cars, with a 30% increase in 2014, even though the number of queries for used cars has increased by 30 per cent. Since late 2014, India’s largest marketplace for used cars has been Google Search. 8 out of 10 potential buyers of used cars use Google to do their research when narrowing down their choices. The most popular search terms include budget, brands and fuel type.
Further, the study shows that while the number of first-time buyers has decreased, there has been an increase in car buyers who own multiple cars. People are looking to purchase a second vehicle rather than a two-wheeler. A second interesting fact is a rise in fuel prices. This plays a major role for customers who buy petrol or diesel cars. Google searches show a preference for diesel queries over petrol queries.
According to the study, most used car searches are done in Maharashtra. South India, West Bengal, NCR, Uttar Pradesh, and Punjab follow. Honda is the most searched brand for used cars on Google, with Honda City being the most popular used car.
Google searches for used cars are consistent throughout the year. This contrasts with new car search queries that see different trends during seasons.
Only 16% of used car searches are specific brands. The other 84% are generic queries. This indicates that buyers enter the market with an open mind and make a purchase after researching and analysing all options.