Two wheeler maker Honda Motorcycle & Scooter India (HMSI) today inaugurated its 150th pre-owned vehicles dealership 'Best Deal' at the textile city of Coimbatore in Tamil Nadu.
Best Deal is the first and the only organised retail set-up exclusively for certified Honda pre-owned two-wheelers.
Honda's Best Deal network now covers 117 cities across 21 states in the country.
HMSI also said it has advanced the target of setting up 200 such outlets by a year, which is now expected to be accomplished by March next year following strong momentum in its pre-owned vehicles business.
The landmark 150th pre-owned two wheeler outlet was inaugurated at Aadhi Honda, Coimbatore, the company said in a release.
"Our experience shows that pre-owned industry is evolving at a very fast pace and the replacement cycle for two-wheeler has come down to 4-5 years.
Honda sees good future potential in pre-owned two-wheeler business and has advanced its expansion horizon to 200 Best Deal outlets by the end of this fiscal itself," said Honda Motorcycle & Scooter India Pvt Ltd's senior vice president for sales and marketing Yadvinder Singh Guleria.
According to the company, when in 2017 the new two wheelers industry faced challenges like demonetization and transition from BS-III to BS-IV, which lead to a single digit growth, there was a significant boost in demand for pre-owned two wheelers.
Honda's pre-owned business grew by 23 per cent, three times that of the new two-wheeler industry growth, which stood at seven per cent, in the last fiscal, the comopany said, adding "supporting this growth was the rapid network expansion of Best Deal outlets count by 44 per cent to 147 outlets in the fiscal year ended March, 2017.
These outlets have enabled the company to create more touch-points of interacting with customers and also tap into the huge potential that the pre-owned two-wheeler market offers.
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