Volkswagen likely to enter pre-owned car market in India
New cars are being sold to a greater extent and thus many companies have come up with new and enchanting models of luxurious cars. Along with the new cars, the old cars or which are also known as pre-owned cars has a feasible market. The used car market is growing at a very faster rate and many companies invest into this business. Germans well known car manufacturing companies, Mercedes-Benz and BMW have already entered in the used car business. This time yet another German car manufacturing company Volkswagen is planning enter the pre-owned car segment.
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Volkswagen group sales Indian director, Neeraj said that the Volkswagen Company is present in Indian automobile market for a good amount of time. The company has spread its branches all over the country. According to them, there are large segment of people who really want something new after 2-3 years. People normally want to change their cars after some years. As a result of which, there is a much demand of the pre-owned cars in the Indian market and the company is all set to enter this particular segment at the perfect time. However, he did not confirmed on when they wish to start this new venture.
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According to the reliable sources, Volkswagen is likely to enter this venture in May. The company will have Audi and Skoda in the list as its competitors. Volkswagen has also got the license from the Reserve Bank of India for starting a finance company which will finance for the pre-owned cars.
