With the slowdown in truck sales and now the pandemic causing nearly 80% drop in new vehicle sales, companies are focusing on the used business.
Daimler India Commercial Vehicles announced its entry into organised used truck retail with BharatBenz Exchange. “The company expects to add 10% customers to its new truck business through the exchange programme and will extend it to include buses too,” said MD & CEO Satyakam Arya.
Others like Volvo Eicher Commercial Vehicles (VECV) and Tata Motors are re-focussing on this segment to get around the 20% excess capacity that the new axle load norms have built into the market. “We have a separate vertical which helps customers or financiers remarket used trucks and buses. Around 50% of our dealers are certified to handle, refurbish and offer extended warranty on used CVs,” said Vinod Aggarwal, MD & CEO, VECV.
Source:TOI
