Tag Archives: Car

This 2019 Study Reveals the Best Used Car Values for Under $20,000

New car sales are slowing down and due to the rising average cost of a brand new model, more buyers are pivoting to the preowned market. It’s no secret that letting someone else take the depreciation can result in a better value for your dollar, but a new study from iSeeCars examines which models can get you the most for your money. Even though ... Read More »

19 lakh customers! Maruti Suzuki Dzire maintains pole position – 1 new car sold every 2 mins

It’s been more than 10 years since Maruti Suzuki’s sedan Dzire first came in and since then it has continued to maintain its pole position in its segment. So far, over 19 lakh customers have bought this compact sedan of Maruti Suzuki. The auto major sold over 2.5 lakh units of Dzire in 2018-19, averaging monthly sales of over 21,000 ... Read More »

Value picks: Used car financing is now outselling new car loans

With many more consumers opting to buy second-hand cars, given how prices of new cars have shot up, banks are now focusing more on used car financing. Indeed, at a time when the demand for new car loans has flagged, credit for used cars is growing at perky 15-18%, according to bankers. CarDekho.com puts the pace of growth at an ... Read More »

This Chinese Used Car Marketplace is Making all the Right Noises

One may have a second thought before purchasing a used car, but millennials in China are slowly changing this attitude towards owning one. A research firm recently published a report stating that the supply of used cars in China will increase as the market matures and the cost benefits will start to stand out more. And reaping full benefit is ... Read More »

New car launches in June 2019

The monsoon season is just around the corner and so are two new much-awaited launches and unveilings in India. Of these, the Toyota Glanza and the Jeep CompassTrailhawk will make its debut in the hot-selling hatchback and off-road SUV segment. Meanwhile, Kia and Renault will showcase the SP2i and the Triber, respectively. Read below to learn more about them – Toyota Glanza Toyota Glanza, the rebadged version of the Maruti Suzuki ... Read More »

Used Car Marketplace Spinny Raises $13.2 Mn In Series A Round

Gurugram-based used car marketplace Spinny has raised $13.2 Mn in Series A funding round led by Accel and SAIF Partners. Existing investors such as Blume Ventures and Simile Ventures had also participated in the round. Raghunandan G (cofounder and former CEO Taxi For Sure) and Haresh Chawla (partner at True North PE firm) also joined the round in their personal ... Read More »

Accel, SAIF, Alteria invest in used car retailer Spinny

New Delhi: Used car online retailing platform Spinny has raised $13.2 million led by marquee early stage investors Accel Partners and SAIF Partners in a Series A round, the company said on late Tuesday evening in a statement. Its existing investors- Blume Ventures and Similie Ventures also participated. Further, it has also raised ₹20 crore in venture debt from Alteria Capital, which provides loans ... Read More »

Why the second-hand car market is seeing a boom

Even as new car sales have slowed down in the recent past, the pre-owned car market has continued to grow over the past year and is larger than the new car market now. Consider this: In 2018-19, while new car sales were recorded at 3.6 million units, 4 million second-hand cars were bought and sold, according to a recent report ... Read More »

Used car market size can be ₹50, 000 crore by 2022: Mahindra First Choice

The size of India’s pre-owned or second-hand car market could be between 6.7 million units and 7.2 million units by 2022, with the value of the segment pegged at ₹50,000 crore, according to a sector outlook released by Mahindra First Choice Wheels Ltd, the pre-used car business of Mahindra and Mahindra Ltd. According to the report, the share of organized retail ... Read More »

China electric car firm Faraday Future says obtains $225 mn in bridge financing

SHANGHAI: Chinese electric vehicledeveloper Faraday Future said on Tuesday that it had obtained up to $225 million in bridge financing from a U.S. merchant bank to allow it to complete the development of its flagship FF91 model. Faraday, which has ambitions to overtake Tesla Inc, said in November that it was exploring strategic options, including debt and equity financing, amid a legal fight with Evergrande ... Read More »