Latest Car News in India

Thursday, June 30, 2011

By Pranjal Gera

Want a cheap luxury car??

Who would mind a Mercedes Benz parked right in front of their house that too when it is available at a cheaper rate. The best way for it is to go for the pre-owned car showrooms by the car companies itself. Car companies are starting to set up their own pre-owned car showrooms to meet up with the demands arising from the young and rising generation of India.

Mr. Peter T. Honegg, the Managing Director Mercedes Benz India said in a press conference that why would not one buy a Mercedes Benz at half the rate. Proven Exclusivity- the pre-owned car showroom brand opened by the auto giants last year has started getting success. Mr. Honegg added that the move will bring young customers to attach to the company and the company would be able to offer its best to them. BMW and Audi have followed on closely the steps of Mercedes.

BMW is set to open a store in India by October 2011, whereas Audi has decided to venture into this market sometime around next year. However, the question that comes to mind is why the car companies so much interested in this pre-owned market. As per the words of Mr. Kumar Kandaswami of Deloitte India, the answer is that maybe because they want to keep the resale value of their models high and with this they can decide how much discount they can give on new models.

The people who are brand name cognizant but not essentially rich are on the radar of the car companies. He added that some people do not mind driving in a used car if it carries a lush batch on it. In addition, the second-hand luxury cars have come as a benefit for undersized hotels and sightseeing operators. Ravi Khanna of Khanna Tours and Travels said that a used luxury car gives them double benefit of boosting their image plus saving their expenses.

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