Hyundai Motors to enter used car business

Hyundai Motors will soon join the used car outlet bandwagon by end-2006 through a subsidiary, which will offer its customers an option to upgrade their models.

Adit Garg, sales manager, Hyundai Motors, Goa said, "We are planning our own trade-in, which will offer a range of second-hand Hyundai cars as well as upgrading facility to our customers."

During a road show in the city, Hyundai Motors displayed their wide range of cars. The company also exhibited two of their yet-to-be-launched vehicles, the ultra luxury sedan Azer and its Korean-made sports car, Coupe. Hyundai Motors is conducting such road shows across the country to exhibit new vehicles.

Garg said that the company is yet to name their new venture, to be set up in association with its dealers across India.

"The dealers have their own in-house schemes, but they are not yet organized in a proper setup to make it an arm," he added.

Hyundai Motors is targeting a 23-per cent share of the used car market and will adopt a customer-friendly strategy.

There are over 5,000 Hyundai vehicles, especially in the small car segment, Santro and luxurious Ascent on the Goan roads. The company is expecting to sell another 20 per cent in the Goa market during this fiscal year.