Spinny’s Q1 metrics driven by younger demographics and occasion-based car buying

Entrackr · 11d

Spinny, the used car platform, has released its Q1 2025 report, highlighting strong growth and shifting buyer trends. According to the report, hub deliveries increased from 74% in 2024 to 78% in early 2025. Occasion-based buying is gaining traction, with over 700 cars sold on the first day of Navratri 2025—a 20% increase from the previous year. In Q1 2025, 20% of buyers at Spinny opted for zero depreciation insurance, while 30% selected extended warranties. Spinny’s exchange program is also seeing increased interest. The report further noted that younger buyers are now leading the market, with the average customer age falling to 32. First-time buyers made up 74% of customers in Q1 2025, slightly up from 73% in 2024. Looking ahead, Spinny plans to enhance its digital services, with a greater focus on loans and warranties. Interest in compact SUVs and automatic cars remains high. The company also identifies electric and hybrid vehicles as a key growth area, driven by evolving needs such as family expansion or relocation. Founder and CEO Niraj Singh said Spinny is committed to providing value and building trust, helping buyers make more informed car choices. Spinny operates in 22 cities across India with 57 car hubs and is backed by Sachin Tendulkar as a strategic investor. The company is on the verge of closing a new funding round worth $130 million, comprising both primary and secondary transactions.