New Delhi: Toyota Kirloskar Motor aims to expand its used car business in major cities, according to a senior company official.
The automaker on Friday inaugurated its first company-owned Toyota Used Car Outlet (TUCO) in New Delhi under the Toyota U-Trust brand name.
“With the Indian used car market projected to grow at a CAGR of 8 per cent and currently 1.3 times the size of the new car market, the sector has significant growth potential,” said Takashi Takamiya, vice president, Toyota Kirloskar Motor.
The company's expansion in Delhi and plans for more outlets in major cities underlines its strategy to create a seamless, transparent and reliable used car market for customers, he said.
TKM entered the used car business in 2022 by opening an outlet in Bengaluru.
The automaker on Friday inaugurated its first company-owned Toyota Used Car Outlet (TUCO) in New Delhi under the Toyota U-Trust brand name.
“With the Indian used car market projected to grow at a CAGR of 8 per cent and currently 1.3 times the size of the new car market, the sector has significant growth potential,” said Takashi Takamiya, vice president, Toyota Kirloskar Motor.
The company's expansion in Delhi and plans for more outlets in major cities underlines its strategy to create a seamless, transparent and reliable used car market for customers, he said.
TKM entered the used car business in 2022 by opening an outlet in Bengaluru.
