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Mercedes-Benz India expects the pre-owned car sales to increase in demand despite the ongoing Covid-19 pandemic in the country. The company says that its certified pre-owned car segment to remain unaffected from the crisis.
However, the pre-owned segment growth is not expected to increase more than that of the new cars. Alongside the pre-owned cars sales, it also expects some kind of revival happening in the festive season this year for the brand new cars as well.
Speaking At A PTI, Martin Schwenk, MD and CEO, Mercedes-Benz India, said, "Young and first-time buyers who aspire to own a three-pointed star usually opt for certified pre-owned cars to experience the product before moving on to a new one. So whilst we expect pre-owned cars sales to increase, we don't expect that this will come as a substitute for new cars."
According to the company, the pre-owned car business has been a strong area of growth in the Indian market. Mercedes-Benz has completed more than nine years in the market, and has attracted many customers into the brand.
Mercedes-Benz is also offering its pre-owned customers the same service, financial offerings and brand experience that is offered while purchasing a brand new car. This has also translated into more customers walking in to experience the luxury brand in the second-hand vehicle market in India.
Further, the company has also added its certified pre-owned car segment to its online offerings. It has witnessed a strong interest in pre-owned cars on its online sales platform. Mercedes-Benz Certified has sold over 20,500 units of pre-owned cars over the last five years. The company has witnessed a 20 per cent cumulative growth, which is exceptional for a pre-owned segment.
Speaking about the current market condition, Mr Schwenk, further said, "Our sales have been affected due to the ongoing macro-economic headwinds, COVID-related challenges and unavailability of volume models in first and second quarters. It will be a very difficult task from here onwards to compensate for the loss of a quarter."
He also stated that the company is receiving an overwhelming response to its online sales platform. Owing to the current conditions of contactless transactions and the need for social distancing, customers are opting to purchase cars online safely and securely. The company has already received 100 plus bookings via its digital retail platform.
In related news, to increase its presence this year, the company has already launched a slew of new cars in the Indian market. The latest one to arrive from the German automaker is its new flagship SUV, the 2020 GLS. The SUV was launched recently and retails at starting price of Rs 99.9 lakh, ex-showroom (India) — here are more details.
Thoughts About The Second-Hand Car Sales Will Increase According To Mercedes-Benz India
The German auto manufacturer has seen an excellent increase in its pre-owned market. Customers looking to own a luxury car is more likely to switch to a pre-owned car as it is cheaper compared to a new purchase. Additionally, customers opting for a pre-owned vehicle will receive the same experience and service available, which adds more value to the purchase.