SUVs are the most sought after vehicles according to a study carried out by Google India and Mahindra First Choice Wheels, with 47 percent of all search queries for used cars being for the same.
According to a study carried out by Google India in association with Mahindra First Choice Wheels, utility vehicles are the most searched in the used car segment on Google in India. The study report has been compiled by analyzing the different search trends of used car queries and the actual market behavior of the used car market in India. Taking up a majority 47 percent share in used car queries in India, utility vehicles lead the pack, thereby becoming the main driver of the online used car demand.
Utility vehicle queries are followed by that of hatchbacks at 20 percent and the remaining come from the sedan and luxury car segment. The growth in SUV demand from 6 to 10 percent, also matches with the trend in offline sales at Mahindra First Choice outlets all over India since the past three years.
With the immense growth witnessed in the used car market over the past six years, the number of queries related to used cars on Google Search has grown 20 times, with a 30 percent year-on-year increase in 2014. The internet has as of late become one of the biggest marketplaces in India and 8 in 10 potential used car buyers do their research on Google when they need to shortlist on which used car to purchase. Some of the most commonly used search questions include words like budget, brands, fuel type and ownership.
The study further reveals that the proportion of first time buyers has declined, but there is an increase in the number of car buyers who already own more than one car. Moreover, more people are nowadays looking to buy a second vehicle instead of purchasing a two-wheeler. Another interesting fact is the trend in fuel prices, which plays a significant role for customers buying diesel or petrol cars. There is also a growing preference of diesel car queries on Google search, which enjoys a majority over petrol queries.
The study also revealed that, most number of used car searches come from Maharashtra, followed by South India, West Bengal, NCR, Uttar Pradesh and Punjab. In the used car searches, Honda is most searched used car brand on Google with the Honda City taking the top slot for most searched used car.
Searches in Google for used cars is consistent throughout the year, unlike the new car search queries which witnesses different trends in different seasons. Only 16 percent of the used car searches are for specific brands and 84 percent queries are generic queries indicating that the buyers get into the market with an open mind and finalize their purchase after analyzing and researching all options.