CARS24 recently released its DriveTime Quarterly Report for Q2 2024. 

According to this report, 78 percent of Indian car buyers are now prioritising safety features like airbags, ABS, EBD and ESC over mileage even with high fuel pricing. Other features in demand are manual transmissions which saw 80 percent of buyers opting for it and premium features such as sunroofs, GPS-integrated systems and rearview cameras have become standard expectations for car buyers. Leather interiors, alloy wheels, ambient lighting, turbocharged engines and technologies like 360-degree cameras are among the most sought-after features. Value-added services are also on the rise with consumers spending an average of INR 10,000 on extended warranties and tech upgrades.

Overall, the report states that in the period from April to June approximately 48.5 percent of all car buyers were salaried professionals celebrating career milestones. Corporate employees are choosing to invest in personal vehicles for their daily commutes and lifestyle upgrades. This shift is driven by a rise in disposable incomes, attractive financing options and a desire for enhanced personal mobility. The majority of these purchases were made by employees in metro cities such as Delhi, Mumbai and Bengaluru. However, the pre-owned car popularity extends beyond metro cities with explosive growth seen in non-metro markets. 

The report highlights an increased urban and non-metro demand and changing consumer preferences with a focus on safety and advanced features. Financing options are making car ownership more accessible with a notable rise in women buyers.

Other key trends mentioned in the report were as follows:

Non-Metro areas such as Agra, Coimbatore, Vadodara and Nagpur, each saw a 25 percent growth in pre-owned car sales courtesy of economic growth and rising disposable incomes in the cities. The most popular pre-owned models include Grand i10, Swift, Baleno, Kwid and Honda City. Ahmedabad, Bengaluru, Hyderabad, Mumbai and Pune also saw a surge in pre-loved car sales.

Over the last five years, the share of SUVs has increased from 10 percent to almost 20 percent reflecting a shift in consumer preferences. In the used car market, the proliferation of body type is — Hatchbacks - 60 percent, Sedans - 21 percent and SUVs - 19 percent.

Unique trends like gifting pre-owned cars also surged on Akshaya Tritiya, Mother's Day and Father's Day in this quarter. 

In terms of finance, the average age of buyers using loans dropped from mid 40s to early 30s. Women secured 10 percent higher loan amounts in comparison to men. A total of INR 3.28 billion in loans were issued out of which 30 percent of loans were zero down-payment.

Cars worth INR 15 billion were sold to Cars24 in the quarter. People are looking to upgrade to newer models more frequently driven by the desire for enhanced features, better fuel efficiency and lower maintenance costs. These have now created shorter ownership cycle of 4-6 years as compared to the earlier cycle of 8-10 years.

Commenting on the report Gajendra Jangid, Co-founder, CARS24 said, “This quarter has been nothing short of extraordinary. With so many services coming in, we’re seeing incredible diversity in our customers' car preferences and buying patterns. It’s been exciting to evolve alongside our customers and witness how the future of car ownership in India is taking shape.”

Mumbai-based automotive major Mahindra & Mahindra has announced its wholesales for April 2025 at 84,170 vehicles, a growth of 19 percent, including exports.

The auto major sold a total of 52,330 SUVs in the domestic market, which was 28 percent higher than 41,008 SUVs sold for the same period last year. Commercial vehicle sales in the domestic market came at 22,989 units, which was 4 percent YoY. 

Veejay Nakra, President, Automotive Division, Mahindra & Mahindra, said, “Building on the strong momentum of last year's performance, we began the year on a strong note in April by achieving SUV sales of 52,330 units, a growth of 28 percent and total vehicle sales of 84,170 units, a 19 percent growth over the same month last year. These numbers indicate the strength of our portfolio and customer offerings.”

JSW MG Motor India, a leading passenger vehicles manufacturer, has announced its wholesales for April 2025.

The company reported sales of 5,829 units, which was 23 percent higher over April 2024, when it sold 4,725 vehicles.

Interestingly, the automaker's popular offering, the Windsor EV, has continued to be the top-selling electric passenger vehicle for the seventh month in a row.

JSW MG Motor India's Windsor EV has now gone home to over 20,000 customers.

Maruti Suzuki India, the country’s largest carmaker, has reported its wholesales of 179,791 units in April 2025, marking a 7 percent increase compared to 168,089 units sold in April 2024. The growth was primarily propelled by strong performance in utility vehicles and a sharp rise in export volumes.

Domestic sales, including passenger and light commercial vehicles, remained flat with 142,053 units, as compared to 140,448 units in April 2024. Within this, light commercial vehicles (LCVs) like the Super Carry saw a significant jump of 34.2 percent, with sales rising to 3,349 units from 2,496 units last year.

In the passenger vehicle segment, SUVs such as the Brezza, Ertiga, Grand Vitara and others recorded a 4.4 percent increase, selling 59,022 units compared to 56,553 in the previous year. However, sales for Eeco declined by 5.2 percent, while the mini segment (Alto, S-Presso) saw a sharp 45 percent drop, falling to 6,332 units from 11,519 units. The compact segment, which includes high-volume models like the Baleno and Swift, grew by 8.1 percent, reaching 61,591 units.

Sales to Toyota Kirloskar Motor rose sharply by 79.2 percent, from 5,481 units to 9,827 units, indicating a growing demand for cross-badged products.

The standout performer was the export segment, which surged 26 percent to 27,911 units from 22,160 units in April 2024. This strong export growth helped bolster the company’s overall numbers despite weaknesses in domestic sub-segments.

While some product lines such as the mid-size sedan Ciaz (-63 percent) continue to struggle.

Tata Motors reported total wholesales of 72,753 units for April 2025, reflecting a 6 percent year-on-year decline from 77,521 units in April 2024.

The passenger vehicle (PV) segment, including electric vehicles, accounted for 45,532 units, down 5 percent from 47,983 units in the same month last year. Within this, domestic PV sales dropped 6 percent to 45,199 units, while international business (IB) sales rose significantly to 333 units, up from 100 units. Electric vehicle sales (domestic + IB) declined 16 percent year-on-year to 5,318 units.

Commercial vehicle (CV) sales stood at 27,221 units, marking an 8 percent YoY drop from 29,538 units in April 2024. Domestic CV sales contracted 10 percent to 25,764 units, while CV exports (IB) grew 43 percent to 1,457 units. Key sub-segments like Small Commercial Vehicles (SCV) and pickups saw a steep 23 percent decline.

Despite growth in certain categories like ILMCV trucks and passenger carriers, overall sales momentum was tempered across both PV and CV segments.