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Reliance eyeing the growing secondhand car market

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Mukesh Ambani-owned Reliance Retail is evaluating the option of entering the secondhand cars market in India. This will supplement the group’s efforts to set up multi-brand car servicing stations at its retail outlets. It is expected that service facilities will be set up in joint venture with Corghi SpA, an Italian automotive firm that manufactures tyre changers, wheel balancers, wheel aligners, and lifting and testing equipment.

The secondhand cars market in the country is considered to be almost as big as the market for new cars. The category is growing at a rate of 20-25 per cent – same as that for new cars.

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