Lexus Aims for Indian Used Car Market Entry

According to Naveen Soni, President of Lexus India, the automaker is giving serious thought to implementing a well-organized pre-owned car programme. The company plans to initiate this program in specific outlets, taking into consideration the business viability of its dealer partners. Additionally, Lexus is fully prepared to make its foray into the second-hand car market by the end of this year or early next year.

India’s luxury car market is experiencing rapid growth, and concurrently, the demand for luxury cars in the used car segment has also witnessed a surge. In light of this trend, luxury car manufacturer Lexus is now contemplating an entry into the used car market in India. A top official from the company revealed that Lexus aims to venture into the second-hand car business starting from the next year. Having successfully completed six years in the Indian market, this move marks a significant step for the automaker.

In a conversation with news agency PTI, Naveen Soni, President of Lexus India, expressed that the automaker is actively contemplating the implementation of a well-structured pre-owned car programme. Lexus intends to introduce this program selectively in certain outlets, taking into account the business viability of their dealer partners. Moreover, the luxury car manufacturer is fully prepared to make its entry into the second-hand car market by the end of this year or early next year.

At present, Lexus, the Japanese carmaker, distributes its production line-up through 23 touch points. However, the company has set its sights on establishing dedicated sales outlets under its own name. The overarching objective behind this plan is to enhance its brand value and boost overall sales. Renowned for its self-charging hybrid cars, Lexus is also gearing up to launch its inaugural electric model in the country by the year 2025.