The Indian unit of Europe’s largest car maker – Volkswagen – is all set to mark its entry into the Indian used car market. The company is currently one of the fastest growing car makers in the Indian market, registering heavy sales figures of its Volkswagen Polo hatchback in the country.
In a recent statement, Director of Volkswagen passenger cars, Group Sales India, Mr. Neeraj Garg said, “We have been in the Indian market for quite sometime. We think there are people who want to change their car after two-three years. There is a demand for pre-owned cars here and we think this is the right time to enter the segment.”
As per the industry sources, the company will mark its debut in the Indian used car market in the month of May 2011, though the company is yet to make an official announcement in this regard.
A wholly-owned subsidiary of the German auto maker - Volkswagen Finance India (a part of Volkswagen Financial Services AG) – has recently received a licence from the Reserve Bank of India to start a non-banking finance company to finance the company’s used cars.
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