Young India is gearing up against the odds to fuel the economy. During these times, a personal car can be a safe form of mobility. But given the cash crunch, the demand is moving towards used cars. The used car market has seen a rise in the demand for cars in the Rs 4 lakh to Rs 6 lakh bracket. Most queries are from first-time buyers, who earlier relied on public transport/shared cabs. This is a positive sign that people are willing to take the step for personal safety while motivated to resume their working lives. According to a recent survey by consulting firm Deloitte, 77% consumers want to limit the use of public transport, 70% would want to avoid ride-hailing options altogether, and 79% have an intention to own a vehicle.
Therefore, the pre-owned car industry needs to shoulder the responsibility of providing value as well as quality to customers. The key criteria would be safety checks, quality and the ease with which customers can buy a car.
Home test drives, home deliveries
The current challenges also require raising standards to an even higher level backed by strict protocols at every touch point. In this case, the complete ownership of the customer experience, i.e. zero-contact processes — from the inventory of cars, online ordering, home test drives and home deliveries — is a used-car platform’s responsibility. With a full-stack platform, we, at Spinny, are prepared to cater to the needs of this ‘new normal’.
Since health and safety are the top priority, we have offered home test drives and home deliveries — and, infact, are witnessing a sharp increase in inquiries for home test drives. We expect to return to pre-Covid-19 numbers this month itself.
By Niraj Singh
(The author is CEO & co-founder, Spinny, the used-car retailing platform.)
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