CARS24 recently released its DriveTime Quarterly Report for Q2 2024. 

According to this report, 78 percent of Indian car buyers are now prioritising safety features like airbags, ABS, EBD and ESC over mileage even with high fuel pricing. Other features in demand are manual transmissions which saw 80 percent of buyers opting for it and premium features such as sunroofs, GPS-integrated systems and rearview cameras have become standard expectations for car buyers. Leather interiors, alloy wheels, ambient lighting, turbocharged engines and technologies like 360-degree cameras are among the most sought-after features. Value-added services are also on the rise with consumers spending an average of INR 10,000 on extended warranties and tech upgrades.

Overall, the report states that in the period from April to June approximately 48.5 percent of all car buyers were salaried professionals celebrating career milestones. Corporate employees are choosing to invest in personal vehicles for their daily commutes and lifestyle upgrades. This shift is driven by a rise in disposable incomes, attractive financing options and a desire for enhanced personal mobility. The majority of these purchases were made by employees in metro cities such as Delhi, Mumbai and Bengaluru. However, the pre-owned car popularity extends beyond metro cities with explosive growth seen in non-metro markets. 

The report highlights an increased urban and non-metro demand and changing consumer preferences with a focus on safety and advanced features. Financing options are making car ownership more accessible with a notable rise in women buyers.

Other key trends mentioned in the report were as follows:

Non-Metro areas such as Agra, Coimbatore, Vadodara and Nagpur, each saw a 25 percent growth in pre-owned car sales courtesy of economic growth and rising disposable incomes in the cities. The most popular pre-owned models include Grand i10, Swift, Baleno, Kwid and Honda City. Ahmedabad, Bengaluru, Hyderabad, Mumbai and Pune also saw a surge in pre-loved car sales.

Over the last five years, the share of SUVs has increased from 10 percent to almost 20 percent reflecting a shift in consumer preferences. In the used car market, the proliferation of body type is — Hatchbacks - 60 percent, Sedans - 21 percent and SUVs - 19 percent.

Unique trends like gifting pre-owned cars also surged on Akshaya Tritiya, Mother's Day and Father's Day in this quarter. 

In terms of finance, the average age of buyers using loans dropped from mid 40s to early 30s. Women secured 10 percent higher loan amounts in comparison to men. A total of INR 3.28 billion in loans were issued out of which 30 percent of loans were zero down-payment.

Cars worth INR 15 billion were sold to Cars24 in the quarter. People are looking to upgrade to newer models more frequently driven by the desire for enhanced features, better fuel efficiency and lower maintenance costs. These have now created shorter ownership cycle of 4-6 years as compared to the earlier cycle of 8-10 years.

Commenting on the report Gajendra Jangid, Co-founder, CARS24 said, “This quarter has been nothing short of extraordinary. With so many services coming in, we’re seeing incredible diversity in our customers' car preferences and buying patterns. It’s been exciting to evolve alongside our customers and witness how the future of car ownership in India is taking shape.”

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German luxury automotive brand BMW India has introduced the updated BMW 7 Series range, offering petrol and battery-electric powertrains across the lineup at prices starting at INR 19.5 million (ex-showroom).

The launch includes the BMW i7 M70 xDrive performance model, alongside the local production launch of the electric i7 at the BMW Group Plant in Chennai.

With local assembly of the i7 in Chennai, India becomes the second country after Germany to produce the electric model locally. The performance-focused i7 M70 xDrive will be imported into the country as a completely built-up unit (CBU) with deliveries across the 7 Series portfolio scheduled to begin in October 2026.

Furthermore, the company also introduced actor Ranveer Singh as the Brand Voice for BMW India at the launch.

Pricing for the petrol-powered 740 M Sport and all-electric i7 eDrive50 xDrive M Sport starts at INR 19.5 million, while the flagship i7 M70 xDrive is positioned at INR 26.5 million (all ex-showroom).

Hardeep Singh Brar, President and CEO of BMW Group India, said: "The new BMW 7 Series is more than our flagship sedan - it is our ultimate statement of modern luxury. It moves the leaders, changemakers and visionaries who are shaping tomorrow. Every detail has been crafted around one idea: those who have reached the pinnacle deserve an experience to match. The new 7 Series sets a benchmark, whether you choose to take the wheel or be driven. It is the new face of the BMW Luxury Class, while offering an early glimpse into technologies that will shape the Neue Klasse era. And with our Power of Choice philosophy, customers can choose from dynamic combustion engines to advanced electric mobility. Because true luxury is not about limiting choices - it is about expanding them. With the new 7, luxury doesn’t end with the drive; it begins there."

"The new BMW i7 M70 xDrive is the most powerful 7 Series ever created - where M performance meets first-class luxury, without compromise. It brings together exhilarating electric performance and the refinement expected from the pinnacle of the BMW portfolio. This is a car for someone who wants the thrill of taking the wheel and, equally, the luxury of being driven. Few cars can make the driver’s seat and the rear seat equally desirable. The i7 M70 does. It represents our belief that sustainability and performance are not competing choices. The future of luxury can be electric, exhilarating and extraordinary - all at once," added Brar.

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Kia India has opened pre-bookings for the Carens CNG, Carens Clavis CNG and Carnival Limousine Hybrid models across its authorised dealer network, expanding the company’s multi-powertrain portfolio in the Indian market.

The additions follow their display at Kia Inspiration Day and introduce alternative fuel options to the manufacturer's multi-purpose vehicle segment. The pricing for all three models is set to be announced at a later date.

Both the Carens CNG and Carens Clavis CNG are based on the G1.5 six-speed manual transmission platform and feature a factory-fitted CNG system with a 60-litre tank capacity. Technical modifications include engine calibration for CNG fuel, revised suspension setups, 16-inch wheels and 16-inch disc brakes. The driver interface incorporates a fuel change switch alongside a 4.2-inch colour TFT display with CNG distance-to-empty logic. Structural changes to the third-row seat-back frame have also been implemented to adjust the recline angle.

The CNG range will include Premium (O) trim for the Carens, while the Carens Clavis will be sold in HTE and HTE (O) trims for retail buyers.

For commercial and business-to-business fleet operations, Kia India has designated the M-Drive trim for the Carens CNG and the HTM trim for the Carens Clavis CNG.

The Carnival Limousine Hybrid introduces an electrified powertrain to the upper tier of the range, powered by a G1.6T HEV engine paired with a six-speed automatic transmission.

It is offered in the Limousine+ trim, which features 18-inch dual-tone aero alloy wheels, active air flaps and a virtual engine sound system. Interior equipment includes an air purifier with air quality index display, seat-back tables with integrated wireless charging, ambient lighting and leatherette door trims.

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Hyundai Motor India, one of the leading passenger vehicle manufacturers, has introduced the Lounge Edition variant across its Creta, Alcazar and Creta Electric SUVs. The special edition trim updates interior cabin equipment, rear seat entertainment and exterior trim styling across the three vehicle lines.

The primary update across all Lounge Edition models is an integrated 29.46 cm rear seat entertainment system featuring streaming platform compatibility, interactive gaming, an app store and smartphone mirroring, operating alongside an eight-speaker Bose audio system.

On the inside, it features silver interior accents, white ambient lighting, revised seat patterns and branded headrest cushions. Exterior changes feature black trim on the skid plates, side sills, roof rails, rear spoiler and side mirrors, paired with black alloy wheels and a golden bronze paint option.

The Creta Lounge Edition, built on the King trim level, is available with a 1.5-litre petrol engine mated to an intelligent variable transmission or a 1.5-litre diesel engine with an automatic gearbox, with prices starting at INR 1.92 million ex-showroom.

The Alcazar Lounge Edition is offered in a five-seat layout based on the Signature variant, powered by a 1.5-litre diesel engine with an automatic transmission and equipped with a voice-activated panoramic sunroof, priced from INR 2.18 million. The Creta Electric Lounge Edition, based on the Long Range Excellence trim, adds a dashcam and rear wireless charging pad, with prices starting at INR 2.43 million.

Amit Dhaundiyal, Head of Product Strategy and Planning, Hyundai Motor India, said, "At Hyundai, we continuously strive to create products and experiences that resonate with the evolving aspirations of our customers. Customers today seek experiences that go beyond mobility, and the new Lounge Edition has been designed with this evolving aspiration in mind. From lounge-inspired interiors, engaging digital entertainment and on-the-go gaming experiences powered by rear seat entertainment, to distinctive styling enhancements, every element has been thoughtfully crafted to transform every journey into a more comfortable, connected and rewarding experience. The Lounge Edition reflects Hyundai's commitment to delivering meaningful innovations and greater value across our SUV portfolio, and we are confident it will appeal to customers seeking a unique blend of luxury, comfort, entertainment and exclusivity in their everyday journeys."

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German automotive luxury brand Audi has unveiled the A2 e-tron electric compact model, which marks its most compact green offering, with prices starting EUR 38,200 in Germany.

Developed in Germany and produced at the manufacturer’s Ingolstadt facility, the EV has an energy consumption rating of 12.8 kWh per 100 kilometres under the WLTP test cycle.

The company will open bookings on 10 September, with European deliveries scheduled to begin in December.

The A2 e-tron is offered in four power outputs ranging from 125 kW and 350 Nm of torque in the base specification to 240 kW and 545 Nm in the top variant, paired with rear-wheel drive and permanently excited synchronous motors. Depending on the output, battery capacities are available in 52 kWh, 61 kWh, or 84 kWh gross options, achieving a maximum driving range of up to 646 kilometres under WLTP conditions.

The chassis design incorporates a drag coefficient of 0.24, utilising active cooling air intakes, aero wheels and wheel-arch gap reducers. Bidirectional charging capabilities support Vehicle-to-Load (V2L) external device powering and Vehicle-to-Home (V2H) energy transfer via compatible wall boxes.

On the inside, it features a curved MMI panoramic display housing a 12.3-inch instrument cluster and a 12.8-inch infotainment touchscreen with artificial intelligence assistant integration. Storage incorporates the Fidlock magnetic attachment system as standard equipment, alongside an optional 1.6-square-metre panoramic glass roof.

Audi states that around 300 components across the vehicle are constructed using recycled materials, including post-consumer plastics, aluminium and steel.

The EV assembly utilises 250 existing industrial robots and 1,200 reallocated production components at the Ingolstadt plant, using fixed-sequence manufacturing methods. Standard driver assistance systems include adaptive cruise control, emergency brake assist, evasive assist, attention assist and parking sensors with a rear-view camera.

Gernot Dollner, Chief Executive Officer, Audi, said, “The A2 e-tron is more than a new model: It represents Audi’s renewal. It shows how we are rethinking premium for Europe: using resources more intelligently without compromising on quality, technology, or customer experience. Developed for the needs of our European customers and built in Ingolstadt, it demonstrates our ambition to shape the future of premium mobility.”

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