Toyota Kirloskar Motor looks to expand used car biz across key cities

Toyota Kirloskar Motor aims to expand its used car business across key cities, as per a senior company official. The automaker on Friday inaugurated its first company-owned Toyota Used Car Outlet (TUCO) in New Delhi under brand name Toyota U-Trust.

"With the Indian used car market projected to grow at a CAGR of 8 per cent and currently being 1.3 times the size of the new car market, the sector holds significant growth potential," Toyota Kirloskar Motor Vice President Takashi Takamiya said.

The company's expansion in Delhi and plans for more outlets across key cities underscore the strategy to create a seamless, transparent, and reliable used car market for customers, he added.

TKM had forayed into the used car business in 2022 with the opening of an outlet in Bengaluru.