Used cars in India: Mahindra to sell one lakh cars by 2014

Business of used cars in India is growing leaps and bounds along with new cars launch in India. Already, Hyundai is having a separate wing for used cars business. This time Mahindra group company, Mahindra Firstchoice, has come up with new targets for selling used cars. It said that one lakh used cars will be sold by 2014. Meanwhile, the company will open 300 more showrooms. On the sidelines of inauguration of first showroom of Mahindra Firstchoice in Coimbatore, CEO of Mahindra Firstchoice, Shubhabrata Saha told media persons that the used car business wing has sold over 10,000 used cars in India the previous year while it intends to sell 18,000 cars by the end of current year, of which over 9,000 have already been sold. He added that the used car business have a market of 1.5 million vehicles in a year. The growth rate is twenty per cent. In view of growing interest of customers in used cars, especially from Tamil Nadu, there is a huge possibilities for growth, said Saha. Mahindra Firstchoice has recently set up its superstore in Thiruvananthapuram and would soon be setting up one in Kochi and another in Bhopal. And those who want to have only a new car can wait for a couple of months as Volkswagen is going to launch its Volkswagen Beetle and Volkswagen Polo in India.