Used Car

Firefighters respond to vehicle on fire in used car lot

A vehicle fire in a used car lot early Sunday morning was not suspicious in nature, says the fire captain on scene. The fire in a Dodge Ram pickup truck, parked on the Baycorp Auto Sales lot at the intersection of Edinburgh Road North and London Road West occurred at about 6:30 a.m. today. Guelph Fire Department and Guelph Police attended the early morning scene. ... Read More »

Buyers’ worries put brakes on used-car sales

The industry believes car sales are likely to fall for the rest year, indicating that the market will be in recession by the end of SeptemberSIMON DAWSON/BLOOMBERG VIA GETTY IMAGES The motor market is heading for recession after a 13.5 per cent slump in used car sales was revealed — the steepest fall on record. The industry has blamed a ... Read More »

The untold risks of buying a used car

For car and motor lovers, the Total Motor Show lived up to all the pre-event hype. The event, organised every two years, is the only place East Africans can see all car and motor brands at a go. “This is where to find everything motoring,” commented one of the organisers. My take home from 2015’s dose was the need for ... Read More »

Maruti Suzuki to revamp used-car business

The new outlets, which will also be based on a franchise model, will be set up by Maruti’s dealers, who are likely to invest close to Rs60 lakh-Rs90 lakh in each, depending on the area and city. Photo: Mint Mumbai: Sixteen years after Maruti Suzuki India Ltd entered the used car market, it is sharpening its focus on the business that ... Read More »

Maruti Suzuki to revamp used-car business

Sixteen years after Maruti Suzuki India Ltd entered the used car market, it is sharpening its focus on the business that is expanding rapidly. As part of the exercise, the Japanese carmaker’s local arm, which sells second-hand cars under the True Value brand, will set up a network of 150 independent outlets across the country by March 2018, and increase ... Read More »

China’s used cars put a dent in global industry

Traffic in Taiyuan, China. The country’s used car market is poised for growth, meaning fewer sales of new cars for foreign manufacturers © Bloomberg China’s car market has been key to the recovery in global auto sales growth since 2009, as the chart below shows. Its passenger car sales in the first half of each year have risen threefold between ... Read More »

Planning to buy a second-hand car on loan? Here’s what you need to do

According to a survey done last year, the size of the Indian pre-owned car market is 3.5 million cars. This, as per the survey, was 1.2X of the annual sales volume of new cars. But, despite having a much bigger share in terms of the number of cars sold, only 15% of the used cars sold, were financed through used-car ... Read More »

Carspring, a London and Berlin startup that lets you buy a used car online, raises £5M Series B

Carspring, the London and Berlin used car buying platform founded by Rocket Internet, has picked up £5 million in Series B funding. Backing the round are Rocket Internet itself, along with Channel 4’s Commercial Growth Fund, which offers media in the form of TV advertising in return for equity. In other words, a portion of this round (£1.3m) isn’t cash per ... Read More »

Where Should You Sell Your Used Car In India?

Selling a used car in India can be a tedious exercise. With multiple listings on different online portals, numerous spam calls, random inspections by mechanics and endless negotiations with individual buyers, it’s definitely a time-consuming process at the end of which, we mostly don’t get a fair price for our cars. Cars24 Home page This is why a TV commercial ... Read More »

GST Effect on Used Cars Deals: Buyers Pay More, Sellers Fetch Less

The Indian government has clarified that the Goods and Services Tax (GST) on used cars will be paid only on the margins made by dealers. There will be no incidence of GST on deals between individuals, as it is assumed that the taxes have already been paid at the time of buying a new car and charging GST on a ... Read More »