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The country's largest passenger vehicles maker, Maruti Suzuki, today announced a complete revamp of its 16-year-old pre-owned car unit, True Value, and said it plans to set up 150 independent dealerships of the vertical by March next year.
Overall, the company intends to open 300 dealerships of the pre-owned cars in the next two to three years period, Maruti Suzuki India Limited's (MSIL) senior executive director for sales and marketing, R S Kalsi, said here today after at the relaunch.
The idea for giving altogether a new look to the used car business is to enhance the modernisation and encourage the two-wheeler owners to switch to four-wheeler.
True Value was first launched by MSIL in 2001.
These outlets will be digitally integrated through a portal so that customers can access details of all cars available at True Value outlets nationwide.
"In the first phase, we are planning to set up 150 dealerships this year and we will ramp it up to 300 dealers in the next two to three years," Kalsi said.
The sale of pre-owned certified cars has grown to 22 per cent in the last fiscal from 10 per cent three years ago, he said, adding that the company expects this to jump to 30 per cent by this fiscal.
The company sold 3.50 lakh units of used cars last year.
The total used car business in the country, a majority of which remains in the unorganised hands, is estimated to be around 36 lakh units per annum.
As a part of Maruti Suzuki's transformation, a network of independent True Value outlets will be set up across the country, with a larger display area for a variety of pre-owned cars of the company.
These outlets will be digitally integrated through a portal so that customers can access details of all the cars available at True Value outlets nationwide, as per the company.
Only Maruti Suzuki cars (including those sold through Nexa) will be sold through these outlets.
Maruti Suzuki's Managing Director and CEO Kenichi Ayukawa said, "We want to offer buyers of pre-owned cars the same experience as buyers of new cars. A network of spacious new outlets, using digital technology for customer convenience, will be the highlight of True Value."
"Our focus will be on quality cars, refurbished and certified with the assurance of warranty," Ayukawa said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)