Toyota Kirloskar Drives Expansion in Used Car Business

Toyota Kirloskar Motor is expanding its used car business in major cities, starting with a new outlet in New Delhi. As the Indian used car market grows at an 8% CAGR, the company aims to provide a transparent and reliable marketplace. This comes after their initial foray in Bengaluru in 2022.

Toyota Kirloskar Motor aims to significantly expand its used car business across major cities, according to senior company officials.

On Friday, the automaker inaugurated its first company-owned Toyota Used Car Outlet (TUCO) in New Delhi under the brand name Toyota U-Trust. This new venture comes amid projections that the Indian used car market will grow at a CAGR of 8%, which is currently 1.3 times the size of the new car market.

'The sector holds significant growth potential,' said Toyota Kirloskar Motor Vice President Takashi Takamiya. The company's expansion in Delhi and plans for additional outlets across key cities highlight a strategy to create a seamless, transparent, and reliable used car market for customers. Toyota Kirloskar Motor had initially entered the used car business in 2022 with an outlet in Bengaluru.