Toyota Kirloskar Motor is expanding its used car business to key cities, with the recent opening of its first company-owned Toyota Used Car Outlet (TUCO) in New Delhi, branded as Toyota U-Trust. The move comes as the Indian used car market is projected to grow at a CAGR of 8%, currently surpassing the size of the new car market by 1.3 times.
According to Toyota Kirloskar Motor Vice President Takashi Takamiya, the sector holds significant growth potential, prompting the company’s strategic decision to extend its reach to major cities. Takamiya emphasized the importance of creating a seamless, transparent, and reliable used car market for customers.
The New Delhi outlet marks Toyota Kirloskar Motor’s second foray into the used car business, following the launch of an outlet in Bengaluru in 2022. The automaker’s expansion plans in Delhi and other key cities are in line with its commitment to cater to the evolving needs of customers and tap into the growing demand for quality pre-owned vehicles.
(Source- PTI)
