The pre-owned luxury and supercar retailers seem to have also been impacted by the coronavirus pandemic in India. India’s largest used supercar and luxury vehicle retailer, Big Boy Toyz (BBT) says it has been heavily impacted by the pandemic and the lockdown in India. But the company is working extremely hard trying to cope and tackle the adversities of the situation. Big Boy Toyz, a used luxury supercar retailer who deals in vehicles no less than the market value of Rs 50 lakh usually is said to hold an inventory of around 60-80 luxury and supercars at any given time to cater to nine major cities in India.
Taking about the impact on the brand’s business, Jatin Ahuja, Founder and Managing Director of Big Boy Toyz tells us “There was hardly any business in the month of April and May. However, we survived through June with decent business and the future looks promising.”
BBT reports that its sales for luxury vehicles and supercars dropped down to 30% in April compared to normal month on month operations. But they began to improve to 40-45% in the month of May and stabilised at 80% of normal operations in June. Ahuja expects the company could be back to normal state of the business within a months time.
Shedding more light on how the poor sentiment for vehicles purchases in India has impacted BBT’s business, Ahuja said, “In the last few years for us, the biggest hit was super luxury car segment, the Lamborghini, Ferrari and the sports cars. That segment used to consist of 50% of our portfolio and sales a couple of years ago. Now that super luxury segment accounts for just 20% of our business. This has allowed the utility segment within the price bracket of Rs 50 lakh to Rs 1 crore to become the predominant sales generator. For us, the ‘Utility’ segment cohesively consists of luxury sedans, and SUVs which generally people buy to travel for their daily commutes.”
“Over the last 2-3 months, we had to create a new vision for the organisation considering business continuity in COVID times. We are working in sync with our new vision and have been able to recover at the fastest pace as the organisation is working three times harder than earlier. We have further strengthened our digital strategies in the last two months which is helping us reach our the original numbers.” he added.
As consumers all around the world are transitioning towards SUVs, Ahuja expects the demand for them to grow further and is an avenue, which will inadvertently affect the growth of the used luxury car market. He claims that customers prefer the practicality of SUVs, in addition to the space in the cabin they offer making the driving experience more comfortable. This is why SUVs make up for 55-60% of sales for BBT and its portfolio. However, he also projects that Indian consumers to continue to enjoy supercars and sports cars and sees demand for them to continue, with a handful of purists still seeking manual transmission models as well.
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