Toyota sets up used car outlet

Toyota Kirloskar Motors (TKM) launched 'Toyota U Trust' on Monday to facilitate sales, purchase and exchange of Toyota and non-Toyota cars.

'Toyota U Trust' aims to offer potential customers an opportunity to exchange their old cars of any make for a brand new Toyota, allowing them an opportunity to upgrade. According to a press release, it will also cater to customers who want to exchange their cars for used Toyota cars. It will also provide finance.

M Kawabata, deputy managing director, TKM, said, "The used car market in India is almost as big as the new car market.

The secondary market is important even for the growth of new car segments and we are looking at 10-15 per cent of new car business to come through Toyota U Trust".