New Delhi: After completing six years in the market, luxury carmaker Lexus is looking to foray into the used car business in India from next year, according to a top company official. The Japanese carmaker, which presently sells its product range through 23 touch points, plans to transition some of the sales outlets to also cater to the preowned car vertical.
Lexus, which is well-known for its self-charging hybrid cars, is now gearing up to introduce its first electric model in the country by 2025. The automaker is now seriously considering the introduction of a structured pre-owned car programme, said Nexus India president Naveen Soni.
He noted that the company will initiate the programme in select outlets after considering the dealer partner’s business viability. When asked about the timeframe the company was looking to get into the used car segment, he stated, “So I think soon, by the third quarter or maybe next year beginning, I should say”.
Soni said that the automaker is studying the market keenly. “For us, the starting point would be cities where there is a sizable vehicle park,” he added. Soni noted that the company began selling vehicles in the nation six years ago and that clients might now want to upgrade to a new set of wheels by selling their current car.
“By the end of July, we would have done the same business as we did the entire last year…definitely will overtake the previous highest…I think we should do between 42,000 to 45,000 as an industry this year,” Soni said.
