CarDekho reports 55 % surge in passenger cars search in Q1 of FY 22

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CarDekho, the leading auto-tech firm, today released a trend report on Passenger Cars search on its platform for April – June FY 22. The latest trends indicate massive growth in online searches and changing consumer trends. Across all its digital platforms, the company witnessed 227 million visits in Q1, FY22, a jump of 55% compared to the same period in FY21

The post-Covid world witnessed a dynamic change in consumer patterns.  The first Covid wave had nudged users towards personal mobility and the second wave accelerated the move. Consumer behaviour has changed drastically in the past year, witnessing changes across ages, segments and variants.

The biggest change has beenthe move towards Electric Mobility. The consistent upward movement of fuel prices has impacted customer confidence toward ICE engine powered vehicles. EVs on CarDekho platform witnessed a whopping 224 per cent growth in Q1 (April, May & June), FY2022, when compared to a similar period in FY2021.

Tata Motors led the search trend in EV space, with Tata Nexon EV being the most searched car with approximately 32% of total traffic. The company’s other model Tata Tigor, along with Nexon and MG ZS EV contributed almost 50% of the total traffic in the EV segment. Delhi was the key city for EV’s  searches, followed by other metros and mini-metros. Surprisingly, many Tier 2 and 3 cities like Lucknow, Jaipur and Patna witnessed a spike in electric vehicle search, marking their presence in the top ten cities in this segment. Other prominent brands searched have been Strom Motors R3, Hyundai Kona, Mahindra E-Verito, MarutiWagonR Electric and the premium Jaguar I-Pace.

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With rising fuel prices, Electric Vehicles saw their search market share grow to 3.39 per cent in June 2021 from 1.70 percent last year.  Petrol variants continue to dominate search but have witnessed search market share degrowth by over two percent from 52.46 percent to 50 percent whereas the search market share for diesel vehicles have gained a marginal growth by 1%.