With a view to tap the growing used car market in the country, General Motors (GM) India Limited plans to roll out five more Chevy Ok used car centers within a fortnight. GM India has already opened 17 such centres across the country and these centres have recorded over 500 transactions. “GM India has got a very good response to its used car business in the country. We are going to add five more Chevy Ok centres in different locations within a fortnight,” P Balendran, vice-president (sales), GM India told Business Standard.
GM India is banking on the growing used car market to bring incremental revenues amidst declining sales of passenger cars in the aftermath of economic recession. "India offers a huge market as far as pre-owned cars are concerned as for every model of passenger car sold in the country, two used cars are sold. The used car market in India is still largely unorganized and it needs to be tapped effectively," he added.
GM India is offering a guarantee of six months on all its used car models. The pre-owned cars are subjected to a series of inspections at the company’s outlets to ensure a fair deal to the consumers.
The size of the used car market in India is estimated at about 10 lakh units per annum, with the market being largely fragmented and unorganized. The share of the organized market in this segment is only about 10 per cent while unorganized dealers account for another 30 per cent share. The balance 60 per cent of the sales in the used car market is through personal dealings between the buyers and the sellers.
