Lexus set to foray into used car biz; roll out first EV in India by 2025
Luxury carmaker Lexus from next year is looking to foray into the used car business in India, having now completed six years in the market, according to a top company official.
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NEW DELHI: Luxury carmaker Lexus from next year is looking to foray into the used car business in India, having now completed six years in the market, according to a top company official. The Japanese carmaker, which currently sells its product range through 23 touch points, aims to transition some of the sales outlets to also cater to the preowned car vertical.
Known for its self-charging hybrid cars, Lexus is now gearing up to roll out its first electric model in the country by 2025. Nexus India president Naveen Soni said the automaker is now seriously considering the introduction of a structured pre-owned car programme.
He noted that the company will initiate the programme in select outlets after taking into account the business viability of the dealer partner. “So I think soon, by the third quarter or maybe next year beginning, I should say,” he stated when asked about the timeframe the company was looking to get into the used car segment.
Soni stated 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 started selling vehicles in the country six years ago and there may be customers now who may like to sell their cars and upgrade to a new set of wheels.
“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.
