Toyota Kirloskar Motor (TKM) is set to expand its used car business across key cities in India, according to a senior company official. The automaker inaugurated its first company-owned Toyota Used Car Outlet (TUCO) in New Delhi on Friday, branded as Toyota U-Trust.
Takashi Takamiya, Vice President of Toyota Kirloskar Motor, highlighted the potential growth in the used car market, noting, "With the Indian used car market projected to grow at a CAGR of 8 percent and currently being 1.3 times the size of the new car market, the sector holds significant growth potential." This expansion in Delhi, along with plans for additional outlets in other major cities, reflects TKM's strategy to create a seamless, transparent, and reliable used car market for customers.
TKM initially ventured into the used car business in 2022 with the launch of an outlet in Bengaluru. This new initiative in Delhi marks a significant step in the company's efforts to establish a strong presence in the expanding used car market across India.
