Renault India set to enter used car business very soon
While launching the Pulse hatchback recently Renault India’s Country CEO and Managing Director Mr. Sumit Sawhney told media that they would be entering the used car business very soon. "Renault will be getting into used car business and we have already established a team now. The used car business in India is growing very strong," he said.
Like most of the other car manufacturers present in this used cars arena, Renault’s business model will also be based on the same ‘multi-brand platform.’ This means, apart from Renault branded used cars they will retail cars of all brands from this platform. Currently Maruti Suzuki sells used cars under the True Value banner, Toyota under iTrust, while Mahindra Mahindra operates through First Choice in this rapidly growing pre-owned car business.
The French carmaker hasn’t finalized the name of its used car division yet Sawhney stated, when asked about the name of the latest venture. But he did mention that Renault is very confident over this as it already operates used car business in several countries.
Referring to financing options which is an integral part of the used car business, he said the company has a joint venture and it is already operational, so there are ready on that front too.