Japan used car

The used-car market is expected to see the foray of three global players in the coming months. Japan’s largest dealer of used cars and vehicles Gulliver International, UK-based Manheim and a Dubai-based operator are expected to set up local operations.

All the three players are in advanced stages of talks to rope in a local partner, sources said. Manheim started operations in China last year and is known for its wholesale auto auctions. The unnamed Dubai-based player is based out of Bangalore and is expected to announce its soft launch by the end of this month.

Gulliver is visiting market to firm up its India plans. With south being the most organised used-car market, most of the global players are expected set up shops in this market first, sources added “The Dubai-based player plans to sell and refurbish used-cars along with warranty,” a source said. The global players are also planning to import used cars as they feel India has a huge market for such vehicles. According to the Society of Automobile Manufacturers in India (SIAM), the used car market stands at 1 million units. The auto industry expects this business to grow as fast as the passenger car segment. The market in India is unorganised, with the organised players accounting for just 20-25%. In developed markets like the US, organised players account for nearly 90% of the used-car market sales. READ MORE…