Luxury carmakers focusing on demand for used cars amid slowdown in sales
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New Delhi, Oct. 19 -- At a time when the luxury car segment is expected to see a near 40% decline this fiscal due to covid-19 related disruptions, carmakers such as Mercedes-Benz India Pvt. Ltd, BMW India Pvt. Ltd, and Audi India Pvt. Ltd (luxury unit of Volkswagen Group) are increasingly focusing on the pre-owned car segment to drive growth.
The pre-owned car segment is expected to witness a double-digit growth this fiscal on increased preference for personal mobility. Luxury carmakers are viewing this space as a strategic opportunity to add first-time customers who aspire to experience and own a luxury car.
To be sure, prices of luxury cars depreciate the most compared with other passenger car categories in the pre-owned vehicle marke...
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