Maruti Suzuki has recorded a growth in its used car business inspite of slowdown in the car market. The company denies the impact of low-cost cars like Tata Nano on its True Value and expects a growth by 30%.
Ravi Bhatia, Chief General Sales Manager, Maruti Suzuki stated, “The low priced cars like Nano will not have any impact on used cars business since there is an altogether different set of buyers vying for this segment. Unlike the Rs 1 Lakh priced cars, used ones are available for Rs 60,000-Rs 80,000 and usually two-wheeler owners looking for upgrading their status go for used cars.”
According to Bhatia, Maruti holds majority of the shares in the robust used car market in India. He also states that business with True Value is quite robust and expects to climb a growth scale.
Recently, Maruti has made a new offering to India with the launch of Maruti Suzuki A-star in the A2 segment, a car that is targeted towards urban young consumers.