VW plans to foray into used car market of India
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The giant German car maker Volkswagen AG has decided to enter the Indian auto market with its used car business, Das WeltAuto, during the mid months of 2012, confirmed a company official. “ We have a 100% synergy from our global operations; we will be giving German quality in pre-owned cars. The speciality of our brand will be to not only provide warranty on Volkswagen cars but also on other car brands,” said Nee raj Garg, Member of the Board and Director, Volkswagen Group Sales India.
As per the research carried out by the company, used car market has expanded at a great pace in India and is currently 1.3 times bigger than the total car market size. As a matter of fact, the Indian automobile sector accounts for the sales of two million and more cars on an annual basis. Besides VW, the other car makers that actively deal in used cars include Maruti Suzuki India Limited (MSIL) and Hyundai Motor India Limited (HMIL).
Used cars will be made available by Volkswagen at a minimum of three dealerships in the country, Garg said. “ We have received tremendous amount of enquiries from customers abou t exchange facilities,” he added.
According to Yaresh Kothari, Sector Analyst, Angel Broking Limited, the pre-owned car business is not carried out in a proper and distinct manner; however, is capable of creating great opportunities for growth. Kothari says that even if giant car companies like Maruti and Hyundai have dominated the used car market, other interested companies would not have to make much effort to foray into the segment. “ The key lies in what you can offer different from others,” he added.
Volkswagen has been doing well in the recent times as it ruled over 3% of the Indian auto market during 2011. According to future plans, the car maker expects to increase its hatchback and sedan market share to 10%. Focussing on the small car segment, Volkswagen’s Polo is confidentally confronting Maruti Swift and Auto Expo 2012.
One of the biggest market in India is of used cars. With the enormous potential and existing car makers trying to organize it, it will be great to see second hand car market growing. http://www.usedcarindelhi.com is a one such online market placeJanuary 15 , 2012 by Saahil
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