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Audi, the German luxury car maker, plans to enter the used car business in India in a big way.
“By the end of this year, we will start our used car business under the Audi Approved Plus brand. In the first year, it can account for 5-10 per cent revenue, and we expect this to go up to 25 per cent over a five-year period,” Audi India Head, Mr Michael Perschke, told Business Line . The used-car service will be available across 14 Audi dealership in India.
At present, there are 5,500 to 6,000 Audis on Indian roads. “Our sales target for this calendar year is 5,000, having already sold close to 3,900 cars. In a market such as Mumbai, where our sales are strong, we expect a good response,” Mr Perschke said.
“The used-car business of Audi in markets such as Europe accounts for almost 30-40 per cent of its revenue,” he added.
Mr Perschke, however, refused to comment on the expected price differential, stating that it was still early to predict.
“Our products have good residual value. A three-year-old Audi A6 is worth more than 50 per cent of its original value and a Q7 retains more than 55 per cent of its value after three years of usage,” he added.
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