Due to soaring fuel prices and inflation, the car buyers are postponing purchases of new cars which is badly affecting the car industry. The automobile company therefore are opting other means to make profits. General Motors being an intelligent player has planned to get into the used-car business.
Mr. Karl Slym, President and Managing Director, General Motors India said, “In September, we will have 8 of our dealers taking on the used-car business. We look to expand rapidly after the first pilot phase.”
The company will set up used-car outlets to sell its Chevrolet and Opel branded cars as well as other cars except its rival. General Motors is the second company after Mahindra & Mahindra to sell other cars in the pre-owned car business.
General Motors is also building its own dealer network around the country. The plan of foraying into the used car market is a smart move to generate revenue from the current sluggish car industry. The company has taken a good decision by planning to make its entry in the used car market.