VW India to start pre-owned car business, finance its own cars

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VW India may soon get into the burgeoning organized used car business in India. It’s been a little more than one year since the company got into the manufacture and export of mass-market cars like the Polo, and now we see quite a few VW cars on the roads. The company realizes the promise of the used car market and may soon enter it.
“We feel demand for pre-owned cars is good in the Indian market and we want to bank on the opportunity,” Volkswagen Finance India Board’s Chairman Joern Achim Kurzrock has said.
The company also very recently got the license from RBI to start its Non-Banking Finance Company (NBFC). This means that the German brand may very soon start financing its own cars. The Finance company formed under the license is Volkswagen Finance India which is a subsidiary of VW Financial Services AG, which in turn is a wholly owned subsidiary of VW AG. The company will finance not just VW cars, but other group company cars such as Audi and Skoda as well.
“India being one of the fastest-growing economies, Volkswagen Finance wants to position itself in the market as a mobility provider with products which fully respect the needs of VW, Skoda and Audi customers. Our focus is to support the sales of our branded vehicles to customers,” said Kurzrock.

Courtesy : Just-Auto.com