Connect with us

Technology

Spinny on the Growing Share of Tier 2 and Tier 3 Buyers in the Used Car Market

Published

on

Spinny sheds light on how digital innovations and evolving consumer preferences are propelling the growth of the used car market in Tier 2 and Tier 3 cities in India.

MUMBAI, India, June 20, 2024 /PRNewswire/ — The used car market in India is witnessing significant growth, particularly in Tier 2 and Tier 3 cities, driven by digital innovations and evolving consumer preferences. Spinny, a prominent player in this sector, highlights how these developments are reshaping the landscape of used car sales.

In cities like Lucknow, Kochi, Indore, Pune, and Nagpur, the used car market has transformed from a largely unorganised segment into a structured, technology-led domain. This shift has been facilitated by tech-powered platforms that offer transparency, reliability, and accessibility, revolutionising the way consumers purchase used cars. The integration of technology has streamlined transactions, enhancing consumer confidence and making car ownership more accessible to a broader demographic.

Increasing Demand for SUVs and Hatchbacks

A significant trend observed is the rising preference for SUVs among used car buyers. SUVs, known for their versatility and ability to handle diverse terrains, are becoming the top choice for nearly 40% of used car buyers in non-metropolitan cities. This preference indicates a general trend towards the utility and comfort that SUVs provide.

Additionally, hatchbacks such as the Renault Kwid, Hyundai Grand i10, and Tata Tiago are among the best-selling models in the used car segment. These models cater to the growing consumer demand for affordable and efficient vehicles, reflecting a shift towards more compact and economical options alongside the continued dominance of SUVs.

Luxury Cars Gaining Popularity

The luxury car segment is also experiencing noticeable growth in Tier 2 and Tier 3 markets. Factors such as enhanced economic stability, rising disposable incomes, and the aspirational value associated with brands like BMW, Mercedes, and Audi contribute to this trend. Consumers in these regions are increasingly drawn to luxury pre-owned cars, not only for their prestige but also due to the robust assurances and comprehensive quality guarantees offered by tech-enabled service providers. This growing interest is particularly strong for second hand cars in Indore, Pune, and Nagpur.

Digital Transformation and Market Dynamics

The digital transformation in the used car market has simplified the buying and selling process, instilling a sense of security and trust that was previously challenging to establish. Tech-powered platforms provide structured and reliable services, which are crucial for consumers in Tier 2 and Tier 3 cities. This digital integration has played a pivotal role in driving the growth of the used car market, making it more accessible and appealing to a wider audience.

In particular, the interest in second hand cars in Lucknow and similar cities is growing due to these digital advancements, further contributing to the overall market expansion.

With these dynamics at play, the used car market in India is poised for continued expansion. The integration of digital tools streamlines transactions and builds consumer trust, setting the stage for further growth and innovation in the sector.

About Spinny

Founded in 2015, Spinny is a full-stack used car retailing platform that aims to bring about transparency and convenience in buying and selling pre-owned cars. As a testimony of Spinny’s commitment to transparency and quality, every vehicle on their platform comes with a 200-point inspection checklist, 5-day money-back guarantee, and 1-year after-sales warranty. Spinny has about 36 car hubs operating across 22 cities in India. Last year, Indian cricket legend Sachin Tendulkar partnered with Spinny as a strategic investor and a lead brand ambassador. Sports icon, PV Sindhu, a believer & customer of Spinny, is also a part of a series of marketing initiatives focused on realising the aspirations of a billion car dreams.

Photo: https://mma.prnewswire.com/media/2443565/Spinny_Park_Chennai.jpg
Logo: https://mma.prnewswire.com/media/2096514/4727494/Spinny_Logo.jpg

 

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/spinny-on-the-growing-share-of-tier-2-and-tier-3-buyers-in-the-used-car-market-302177827.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Celerium Hosts Webinar for Healthcare IT Leaders on Fast-Track Solutions to Critical Data Breach Threats

Published

on

By

TORRANCE, Calif., April 23, 2025 /PRNewswire/ — In a healthcare environment where increasing data breaches often overload IT teams, a new expert-led webinar aims to equip IT with rapid, actionable solutions for preventing, detecting, and containing early-stage data breach activity.

Healthcare IT executives will gain clear, pragmatic steps to enable data breach prevention, detection and containment.

Hosted by Celerium, a cybersecurity innovator with experience supporting the U.S. Department of Defense to protect its Defense Industrial Base (DIB), the webinar is designed for time-strapped healthcare IT executives—CIOs, CISOs, and IT Directors—who are seeking effective, efficient solutions for stronger data breach defense.

Webinar Title: “Code Blue: Data Breach Defense in Health Care”

Key Topics Include:

Prevention of Data Breach Threats
Learn how healthcare organizations can take fast-track measures to stop many attacks by threat actors attempting to intrude into hospitals and other organizations.Early Detection for IT Leaders
Discover how IT executives can detect early-stage breach activity by hospital, department (e.g., Imaging, Radiology, NICU), and system—enabling better visibility, smarter resource prioritization, and improved communication with C-level stakeholders.Solving the IT Staffing Gap
Learn how overburdened IT and SOC teams can improve efficiency—even during off-hours like nights, weekends, and holidays when attackers are most active.Filling the Data Breach Detection Gaps
Understand how Celerium’s agentless solution can help secure legacy systems (EDR blind spots like ICU, NICU, imaging systems), building on technology leveraged by the U.S. Department of Defense.

Featured Speakers:

Vince Crisler, Chief Strategy Officer, Celerium – Former White House CISOJeffrey Vinson, Former CISO, Texas Health System – Recognized Top 100 Healthcare CISOTommy McDowell, General Manager, Celerium – Threat Intelligence Leader (formerly Mandiant and FireEye)Karl Kotalik, Chief Solutions Officer, Celerium – Former CEO of NC4

Why Attend?
This is a no-fluff, real-talk session for healthcare IT executives ready to explore innovative solutions. Participants will gain clear, pragmatic steps to enable early-stage breach prevention, detection and containment.

Who Should Attend:
Healthcare CIOs, CISOs, IT Directors, SOC Analysts, Security Architects, Compliance Officers, and Clinical IT Executives responsible for safeguarding healthcare systems and data.

Reserve Your Spot Today
To register or learn more about the event, visit Celerium.com.

About Celerium
Celerium® engineers powerful, active cyber defense solutions to help companies in the fight against increasing cyberattacks and data breaches. With a rich 18-year history of facilitating cyber threat sharing for critical industry sectors and government agencies, and six years of experience supporting the U.S. Department of Defense in protecting the Defense Industrial base (DIB), Celerium is an established leader in providing innovative and effective cybersecurity solutions.

Visit us online at www.Celerium.com and on Twitter at @CeleriumDefense.

View original content to download multimedia:https://www.prnewswire.com/news-releases/celerium-hosts-webinar-for-healthcare-it-leaders-on-fast-track-solutions-to-critical-data-breach-threats-302435169.html

SOURCE Celerium

Continue Reading

Technology

Rich Products Welcomes Industry Veteran Jaimie Lowe as New EVP and Chief Financial Officer

Published

on

By

BUFFALO, N.Y., April 23, 2025 /PRNewswire/ — Global, family-owned food company Rich Products (Rich’s) today announced the hiring of Jaimie Lowe as its new executive vice president and chief financial officer (CFO). A seasoned global finance leader with more than 25 years of experience and long tenures at companies like Unilever, Danone and most recently Tyson Foods, Lowe brings deep expertise in investment management, corporate development, financial planning and digital transformation. She joins Rich’s as a member of its executive team.

As CFO, Lowe will oversee Rich’s financial strategy and planning, risk management, capital structure, and key growth initiatives. In today’s rapidly evolving economic environment, her leadership will be instrumental in navigating the landscape, while ensuring financial resilience. A critical member of Rich’s executive team, she will shape and lead global finance into the future, ultimately helping the company deliver on its bold growth aspirations.

“Jaimie’s extensive financial expertise, coupled with her strong background in digital transformation and innovation, make her the right global leader to drive operational excellence and Rich’s aggressive growth strategy,” said Richard Ferranti, chief executive officer, Rich Products. “She joins us at a pivotal moment in our growth journey, reinforcing our commitment to remaining a strong family-owned company for generations to come.”

Prior to joining Rich’s, Lowe held executive roles at Unilever, Danone and Tyson Foods, leading Financial Planning and Analysis, Corporate Development, Investor Relations and Treasury and Risk. With deep experience in consumer-packaged goods, she has led and shaped financial strategies across various sectors, including food, nutrition, protein and beauty, as well as driven market growth and development strategies across the U.S., Asia, Europe and the Middle East.

“I’m thrilled to join Rich’s at such a dynamic time in its growth journey,” said Lowe. “As the company continues to evolve, maintaining financial strength will be key to driving innovation, expanding our capabilities and delivering exceptional value to our customers and associates around the world. I look forward to working alongside Rich’s talented team to build on its legacy of excellence and drive sustainable success for the future.”

An Australian native, Lowe earned her MBA and Bachelor of Business Accountancy from the Queensland University of Technology in Australia. Additionally, she is a Certified Public Accountant (CPA) and holds a Non-Executive Diploma from the Financial Times. In her free time, she volunteers as a mentor for rising and emerging talent.

For more information on Rich’s, visit http://www.richs.com.

MEET RICH’S.
Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods among others. Working in 100 locations globally, with annual sales exceeding $5 billion, Rich’s is a global leader with a focus on everything that family makes possible. Rich’s®—Infinite Possibilities. One Family.

Learn more at Richs.com or join the conversation on Facebook, Instagram, LinkedIn and Twitter.

View original content to download multimedia:https://www.prnewswire.com/news-releases/rich-products-welcomes-industry-veteran-jaimie-lowe-as-new-evp-and-chief-financial-officer-302435966.html

SOURCE Rich Products Corporation

Continue Reading

Technology

CARFAX Canada Announces Launch of New Tool to Combat VIN Fraud

Published

on

By

HALTON REGION, ON, April 23, 2025 /CNW/ – CARFAX Canada is proud to launch VIN Fraud Check, a new tool that alerts vehicle dealers if a vehicle’s Vehicle Identification Number (VIN) contains data indicating potential fraud, or if it has been reported stolen in North America. VIN Fraud Check will now be available to vehicle dealers who access Vehicle History Reports through the CARFAX Canada dealer portal, at no additional charge.

“VIN Fraud Check is the latest in our suite of data-driven solutions aimed at protecting Canadians and ensuring safer vehicle transactions,” said Shawn Vording, President, CARFAX Canada. “By working closely with vehicle dealers, local police, and the provincial government, we’re equipping Canadian dealers with the tools they need to detect and avoid potential VIN fraud.”

This initiative was accelerated in response to feedback gathered during an industry roundtable hosted by the Province of Ontario. During the discussion, government representatives and industry leaders underscored the need to address the increasing reality of auto fraud through the implementation of new initiatives including data, technology, and collaboration.

“Thanks to CARFAX Canada for this incredible new tool. Combined with the hard work of law enforcement and the support of our government, it will make our cars—and our communities—safer,” said Zee Hamid, Associate Solicitor General for Auto Theft and Bail Reform.

CARFAX Canada estimates that there are approximately 127,000 Ontario registered vehicles potentially cloned across North America.1 By integrating VIN Fraud Check into the CARFAX Canada dealer portal—at no additional cost to participating dealers—this new feature provides a critical layer of protection in the used vehicle market.

“Auto theft remains a serious crime in Halton region and beyond. It is largely driven by organized crime groups that stop at nothing to evade police detection, including VIN cloning to resell stolen vehicles for profit to fuel additional criminal activities,” said Jeff Hill, Deputy Chief of Regional Operations, Halton Regional Police Service. “Technologies like VIN Fraud Check are instrumental in helping police agencies and dealers to identify vehicles being sold fraudulently, removing them from the pipeline and keeping Canadians safe.”

CARFAX Canada’s VIN fraud indication tools are made possible by leveraging the company’s comprehensive North American vehicle information database. Drawing on billions of data records from thousands of sources, CARFAX Canada’s services are uniquely positioned to provide used vehicle buyers, sellers and owners with the most comprehensive, critical information about a vehicle.

“The launch of CARFAX Canada VIN Fraud Check further supports the automotive industry’s dedication to consumer protection,” said Maureen Harquail, Chief Executive Officer & Registrar, Ontario Motor Vehicle Industry Council (OMVIC). “This is one tool that can provide dealers with crucial data to help ensure vehicle transactions are more secure.”

CARFAX Canada is committed to combating the ongoing issue of VIN fraud across the country and creating greater transparency in the used vehicle marketplace. Through extensive collaboration with the automotive industry, law enforcement and all levels of government, CARFAX Canada continues to find new ways to protect Canadians by expanding their extensive database and developing new tools to respond to changing market needs in real time.

For more information about VIN Fraud Check and CARFAX Canada’s other fraud detection resources, visit: carfax.ca/vehicle-fraud

About CARFAX Canada
CARFAX Canada, a part of S&P Global (NYSE: SPGI), is Canada’s definitive source of automotive information, delivering vehicle history, valuation and service solutions. Drawing on billions of data records from thousands of sources, its products enable used vehicle buyers, sellers and vehicle service providers to make informed decisions. CARFAX Canada is dedicated to transparency and is trusted to provide vehicle history, valuation and service information to dealerships, vehicle manufacturers, consumers, service shops, major auctions, governments, insurance providers and police agencies.

Connect with CARFAX Canada on Instagram, Facebook and LinkedIn

________________________________

1 CARFAX Canada data, analysis excludes Ontario/Ontario potential clones

SOURCE CARFAX Canada

Continue Reading

Trending