World’s largest car manufacturer by sales, Toyota Motors, is planning to enter the used car market in India. Toyota is also one of the fastest growing companies around the world and it poses tough competition in any market wherever it aims to mark its entry. Toyota cars are known for their superior quality throughout the world. However, Toyota holds only a small percent of market share in India. It has to still create its niche market and capture a larger market share.
It is now planning to enter the used car market in India. “Entering into used car market in India is one of our business ideas. But we would decide on it only after completely studying the market potential for used cars in India,” said Toyoshima, Managing Director, Toyota Motor Corporation.
Several large car manufacturers like General Motors, Maruti, Hyundai, Mercedes already mark their strong presence in the used car market in India where they offer good quality cars of their brand to the customers. These cars find a good amount of customers who look for good quality cars at a cheaper price and the ones that are often accompanied with company warranty as well.
