At a time when the mass car segment is facing one of its worst times ever, the used car industry is doing well. According to the latest study on the sector, the Indian used car industry possesses a significant potential, with overall market expected to grow at a CAGR of around 22% during 2011-2014 to reach 3.9 Million Units by 2014-end.
Even luxury car manufacturers like Audi- the German luxury car manufacturer inaugurated its largest pre-owned luxury car showroom at Gurgaon under its Audi approved Plus program where they not only sell their own used cars but cars from other manufacturers as well.
Hyundai also has similar model HPromise under the name ‘Advantage’ where they sell pre owned vehicles. The future of used car market looks so promising that even luxury car manufacturers are eyeing to open their exclusive showrooms. Even a leading portal like Cartrade.com which deals in new & used cars, connected to 1200 used car dealers across India believes the luxury used car market to be around 28000- 32000 units a year.
Please let us know if you would like to know more about the same from Mr. Vinay Sanghi,Founder and CEO, Cartrade.com, he can share insights on this growing trend of luxury car makers entering into used car market.