Honda Motorcycle & Scooter India (HMSI) has tied up with Shriram Automall for selling pre-owned two-wheelers in India. With this collaboration, both the partners aim to sell 3.5 lakh two-wheelers in the next three years.
Shriram Automall India is a wholly-owned subsidiary of Shriram Transport Finance Company and aims to become the largest organised player in the pre-owned two-wheeler space. HMSI believes that the tie-up with Shriram Automall would offer a reliable solution for selling pre-owned two wheelers.
YS Guleria, HMSI Vice-President, Sales and Marketing, said, "At present the industry lacks an organised and reliable structure. Through this tie-up we aim to bridge this gap. Currently, the contribution of pre-owned two-wheeler market is estimated to be around 15 per cent of overall sales, but the potential is immense. We aim to start from 40 towns and expect 100 per cent coverage across the country in next three years. Through this arrangement we aim to sell 3.5 lakh units in next three years."
At present, Honda runs certified pre-owned outlets under the brand name 'Best Deal'. In India there are 60 such outlets that are operative across 11 states in our country. The Best Deal outlets will focus on Honda two wheelers, but the pre-owned non-Honda units which it had accumulated through exchange offers for its new bikes will be re-routed to the market via Shriram Automall. The new addition should help the company sell more pre-owned two-wheelers to the Indian consumers.
Honda plans to extend these Best Deal outlets to 100 units in the next one year. Currently, the company is selling 20,000 vehicles through these outlets annually. Overall, the manufacturer aims to sell 45 lakh units in the current financial year. The company will expand the touch points to 3,800 units by March this year by adding 1,000 more in the current fiscal.
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