Audi ramps up pre-owned car business
The Hindu
Firm’s move comes in the backdrop of rising new vehicle prices
German luxury automobile major Audi is ramping up its pre-owned car business Audi Approved Plus to enable buyers in India to upgrade without having to spend on a new luxury car.
“For our Audi Approved Plus brand, we moved from seven facilities in 2020 to 14 in 2021 and now, we are moving to 20 by the end of this year,” said Balbir Singh Dhillon, head of Audi India in an interview.
On the emphasis on this business, he said “In the last few years, the prices of new cars have continuously gone up and of late, the pressure on car pricing is even more due to the increase in commodity prices, shipment costs and foreign exchange rates.”
“It has widened the gap between the non-luxury segment and the luxury segment. When the gap has widened, potential customers fall into this gap and this is where Audi Approved Plus comes into the picture,” Mr. Dhillon explained.
With Audi Approved Plus, the company was trying to bridge that gap, he added.
He said for customers for whom affordability of a new car is a challenge at this point in time, they can still experience the luxury segment with the pre-owned car.
Highlighting that between 2020 and 2021 the company’s pre-owned car business grew by 39%, he said there has been a 50% jump in the first quarter of 2022 compared with the year-earlier period.