CarDekho to open 50 offline stores in India within 6 months

CarDekho to open 50 offline stores within 6 months as used car demand rises

Automobile portal CarDekho has decided to open 50 offline stores in the country within the next six months in view of rising demand for used cars, according to a senior company official.

Amid the coronavirus pandemic, people are looking forward to using their own car instead of public transport and, therefore, the demand for used cars has increased, particularly in the segment of Rs 2-Rs 5 lakh, CarDekho Group Head (Trust Mark Stores) Sharad Jaiswal told PTI.

He added that the company's first store 'CarDekho Gaadi Trust Mark' was opened in New Delhi, and the firm is planning to open 50 such exclusive stores by March 2021 to sell used cars.

He said the company plansto open 50 Trust Mark Exclusive stores and 200 Retail Touchpoints by march 2021 and 1,000 Retail touchpoints by March 2022.

He added that the firm is working on franchise models and the cars sold through these stores will be certified by the company and warranty will also be provided.

Jaiswal said the annual market for used cars in India stands at 40-42 lakh vehicles.

Particularly in the midst of the crisis and challenges arising out of the coronavirus pandemic, people are paying more attention to buying their own vehicle and in such a situation, there has been a good demand for used cars in the range of Rs 2-5 lakh, he said.