Toyota Announces the Launch of 'Toyota Auction Mart'

Toyota Kirloskar Motor (TKM) has announced the launch of “Toyota Auction Mart” in Bangalore, today. Toyota has finally become the first auto manufacturer in India to venture into the business of used car auctions. Toyota intends on providing the buyers with a reliable and transparent used car industry experience. This is the first time that an automaker is providing a service like this in India. The company is all set to start operations through a dedicated auction facility at Bidadi (near Bangalore) in Karnataka. 

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The automaker will be selling cars from all brands and these cars will be subjected to intensive review and detailed inspections. This approach is aimed to deliver global standards of QDR (quality, durability & reliability) for the consumers.

There will be 203 comprehensive point inspections for these cars, which will be carried out to deduce a quality rating for these cars, this will be paired with intensive documentation.

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Mr. Naomi Ishii, Managing Director, Toyota Kirloskar Motor, said, “India’s used car market continues to grow rapidly every year, yet remains largely unorganized. The launch of Toyota Auction Mart signifies our efforts to develop a fair and transparent used car market with increased reliability for our customers and will contribute to the Indian society. Toyota has been engaged in auction through affiliates for more than 45 years now and we will leverage our global experience and expertise of conducting auctions in markets across the world to ensure the highest quality. We are committed towards creating a reliable and transparent used car market which will enable faster disposal of cars at right prices and right quality cars to the buyers”.

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In addition, Mr. N. Raja, Director & Senior Vice President, Toyota Kirloskar Motor said, “At Toyota, we are striving to revolutionize the used car industry by increasing the reliability of Used Car market for customers, which otherwise is considered as unreliable by many customers in India.

As more & more customers come forward and rely on organized market, this will help us expand the organized Used Car market. Toyota Auction Mart will also help OEM dealers to increase their new car sales by faster liquidating their used car inventory, so that they can purchase more used cars to support new car sales and provide many variety of used cars to individual used car dealers at one place. We at Toyota sincerely believe that relationship with used car customers can be strengthened with collaborative effort of entire industry and I am very confident that Toyota Auction Mart will be a strong support in this direction”.