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Volkswagen India Enters Used Car Business
Volkswagen will have a variety of used cars and the automaker will also reportedly sell cars other than Volkswagen models. It will provide finance in cooperation with its financial wing Volkswagen Financial Services as well as warranty for the second-hand cars.
The company is also introducing an interesting financing concept in which the equated monthly installments (EMI) will also include the cost of maintaining the car. With this new business, Volkswagen is joining the list of Mahindra, Tata Motors and Maruti Suzuki which all have their own used car business.
The used car market is growing rapidly in India with owners upgrading their cars in a couple of years. Cars not more than 5-year-old are selling for good value in the used-car market, especially diesel cars over its huge demand.
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