Jagdish Khattar (former Maruti Suzuki India chief), Chairman and Managing Director, Chairman Auto stated, "There is a huge potential for the pre-owned car market in India. On an average, about 1.3 used cars are sold for every new car sold in India. With a lack of organised players in the segment, the opportunities are enormous."
As per the details of the plan, he revealed that out of 160 outlets that the company is planning to open, 100 will cater to the sales of used cars and will also offer service facilities. He added that Carnation Auto will serve its customers in best possible way by providing them range of services, such as quality checks, insurance, certification and verification services.
As mentioned by the reports, Carnation Auto has already applied for insurance broking licence and will soon collaborate with insurance firms to provide the required service. On the success of the used car market, Khattar stated, "This is a segment that will grow 20 per cent per year. Even now, in our service centres, 15 per cent of customers ask for exchanging old cars when they want to upgrade from a smaller to a bigger one."
Since its establishment, the company has spent more than Rs. 200 crore to expand its reach across different regions of the country. Reportedly, Carnation Auto will invest close to Rs. 40 crore to promote its new business venture. At present, the company has 25 centres in 16 Indian cities. Carnation Auto is looking forward to the opening of the 26th facility in Ludhiana soon.Automobile News
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