General Motors planning to expend Used car business

US based car manufacturer General Motors is planning to expend its used car business in India. Company is suffering from steep fall in sales of new cars and recently received bail-out package from Federal government. India is a Very potential market for Used cars and Maruti Suzuki is the largest player in this field. After the global recession the prices of used cars dipped almost by 20% and even by30% for some cars.

According to the company the  Used car segment of the company is expected to launch within three or four months. The company is planning to open 10 Used car outlets across the country for its Used car business. “India offers a huge market as far as pre-owned cars are concerned as for every model of passenger car sold in the country, two used cars are sold. The used car market in India is still largely unorganised and it needs to be tapped effectively”, P Balendran, vice-president, GM India told Business Standard.