When it comes to exotic cars, buying a pre-owned makes a lot of sense; especially in a country like India where the import duties are extremely high and you can’t use them all that often due to obvious reasons. After a few months or a couple of years, the car can find a new home to make new memories.
A well maintained pre-owned is a good place to begin with if someone is buying an exotic car for the first time. Which is probably why the pre-owned luxury market is doing good in the country. Luxury and exotic pre-owned car retailer Big Boy Toyz is betting big on the growing market and aims to sell 500 cars a year.
The company deals with 24 brands, including Ferrari, Bentley, Lamborghini, Maserati, and as many as 150 models, which start from Rs 50 lakh and goes up to Rs 4 Crore. BBT sells 35 to 40 cars per month with an average price of Rs 1 Crore. The turnover is claimed to be Rs 250 Crore, currently, which the company expects to go up to Rs 400 Crore to Rs 500 Crore this calendar year.
The pre-owned luxury market is projected to reach a market size of $75 billion by 2023, thereby recording a CAGR of 15.2% during the forecast period. Although the overall economic slowdown has impacted the new car sales, the pre-owned market has seen an uptrend, the company says.
BBT retails one car per day, on an average. Buyers get an assurance of service and insurance history check, 15,000 kilometers warranty and a one-year buy-back agreement. The company says that more than 50% of the sales are through repeat business every year.
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