Tata Motors to strengthen its used car business

Tata Motors Ltd stated it could give attention to strengthening and scaling up its used car business ‘Tata Assured’, amidst market hypothesis that the corporate may enter into the model agnostic used car business like Maruti’s ‘True Value’ and Mahindra’s ‘First Choice Wheels’ by October this yr.

“Tata Motors through its ‘Tata Assured’ vertical has a strong presence in used car industry with over 150 outlets pan India. It has been helping Tata Motors dealers to exchange vehicles and also provide certified used cars,” a Tata Motors spokesperson stated, responding to a question on a differentiated service providing below a brand new model.

“While we continue to explore various opportunities in the used cars space, at this stage there is no additional information to share. We will continue to focus on strengthening and scaling up ‘Tata Assured’ and reinforcing customer centric initiatives” the spokesperson added.

During the pandemic, the used car market has obtained traction in metro cities with folks preferring a low price, used car relatively than a model new one for private transport, following the suspension of metro rail and native practice companies. Additionally, the worry of contamination by way of different modes of transport has created demand for private mobility.

According to business officers, a strong used car business by an automaker additionally helps in enhancing sellers’ revenue when new car gross sales have been impacted due to financial slowdown and unfold of COVID-19.

When the long run is unsure, the revenue from used car business has the potential to assist in assembly general prices of the seller apart from aiding the principle business to get traction.

In July, new car gross sales declined 4% yr on yr to 1,82,779 items as towards 1,90,115 items, in accordance to SIAM information.

On the opposite hand, the used car market is believed to have offered extra vehicles because the ticket measurement is small. No complete gross sales information is on the market as a result of this section is extremely fragmented and principally unorganised.

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