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Millennials Drive 70% Online Bookings; Festive Season Spurs 60% Surge in Digital Inquiries for CarLeLo

A Capri Loan Venture Backed CarLeLo also witnessed a 60 per cent increase in digital inquiries during the festive season

Millennials Drive 70%  Online Bookings; Festive Season Spurs 60% Surge in Digital Inquiries for CarLeLo
POSTED ON November 14, 2023 1:28 PM

“Millennials have played a substantial role in online booking, constituting 70 per cent of the total buyers from the northern region”, said the Delhi-based start-up CarLelo which facilitates customers to new cars on its platform. The company's sales data revealed that the platform is popular with young people as it offers a convenient and seamless way to buy a new car online. 

In line with this, the start-up also witnessed a 60 per cent increase in digital inquiries during the festive season. Reacting to the trend on its platform it said in a statement that, it indicates a growing inclination toward the ease and convenience of digital interactions throughout the new car buying process 

Gaurav Aggarwal, founder and CEO of CarLelo commented, “We have seen an increase of  4X in sales during the last two months. And a surge in sales of 150 new cars during the auspicious occasion of Dhanteras. We are thrilled to see the growing number of young professionals embracing the ease and efficiency of online new car buying." 

Regarding the trends in new cars, the start-up said that it saw the highest demand in the Delhi NCR region, followed by cities like Meerut, Lucknow, Kanpur,  and Ambala.  

The company recently announced a growth of 300 per cent in digital bookings in Q3 2023. It identified that on its platform 98 per cent of potential buyers are men with the largest buyers coming in the age bracket of 25-40 per cent. 

There is a remarkable  50 percent increase in the demand for SUVs, signifying a preference for spacious and versatile vehicles, the platform added.   

In terms of vehicle preferences, there has been a noteworthy 50 per cent increase in the demand for SUVs. This surge indicates a growing preference among buyers for spacious and versatile vehicles. CarLelo's ability to meet this demand underscores its understanding of consumer preferences and market trends, the company added.

Capri Global Holdings Pvt Ltd (CGHL), which secured a majority 51 per cent stake in the company in May of this year, is poised for an extensive service expansion in the market. Currently boasting a presence with associates in 34 cities, the start-up is strategically positioned to further amplify its offerings, it said in a statement.

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