With an overwhelming response to Proven Exclusivity, its pre-owned car business, Mercedes-Benz India plans to ramp up financing for the segment.
Since the programme’s launch in May, the company has sold around 200 cars. The segment is expected to contribute 10% to the firm?s overall sales in 2010 , said Debashish Mitra, director (sales & marketing), Mercedes-Benz India.
The company will soon float a captive financing arm in the form of Daimler Financial Services, Mitra added.
Mitra, who was in Chennai to launch the southern region?s first ?Proven Exclusitivity? programme, said: ?Given our brand equity, exceptional resale value and Mercedes-backed warranty and other packages, our pre-owned car business has received an overwhelming response. We expect the pre-owned car business will contribute 10% to our overall sales in 2010 and the same will move up to 25% in three years.?
?We sell only those cars which are six years or less than six-years-old under the programme,? he said. The company will launch this programme in six more cities in 2010, including in Pune, Kolkatta, Punjab, Hyderabad.
To a question, he said: ?We are in the advanced stages of floating a financing arm to support our growth in India.?