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of 60,000 units with a growth of 35-40% over the previous fiscal. The company aims to cross the one lakh sales figure by the end of 2016-17.
Sales breed dealerships, and the company has aggressively ramped up its dealership network from 200 in January 2013 to 335 dealers at present. By FY2016 end, the aim is 500 dealerships. Maruti has 540 True Value outlets in over 340 cities, the second-largest network after its own network of new cars.
Another irony of this mismatch between new and used cars is the demand and supply conundrum. While many car makers have been halting production temporarily to correct growing inventories, the used cars business is struggling with a supply crunch. “The availability of used cars is quite poor at present. This is because the new cars segment is seeing a slowdown, which pushes up prices for used cars,” said Jagdish Khattar, founder of Carnation Auto, a multi-brand cars initiative that also deals in used cars.
But this issue could get sorted out as the sector gets more organised, with many web portals such as cartrade.com and biggaddi.com also coming into play. But that’s a story for another day. Right now, the used cars market is a long road of opportunities.