social distancing the norm of the day during the prevailing covid-19 pandemic, Luxury
Ride, a growing chain of pre-owned luxury cars, announced that it is expecting as
much as 60% of all its revenues to come from online in the next 12-months.
will now deliver the car chosen by a customer in any part of India. It is also
expanding its service capabilities to be able to deliver its value proposition
of end to end solution across India where ever its customers are. Luxury Ride
is also taking multiple steps to ensure the process is seamless and the
customer experience is equally positive online as at its physical showrooms.
Garg, Co-founder & Managing Director, Luxury Ride, said “While Luxury car
buying has always been a physical process, we are seeing a change in customer
behaviour as they adapt to the new normal. At the same time see a spurt in
pre-owned luxury car sales as more people who have the means to, try to buy
their own personal transportation versus using public transportation. We will
continue to invest in our physical outlet expansion and in parallel invest in
scaling up our online sales through catering to customers who will take long to
return to showrooms. We have made investments in expanding our service reach
and will be tuning this further with the goal of ensuring the online experience
is as good as the offline experience.”
pre-owned car market is nearly 3 times of the size of new car volumes in
Western Europe, UK and US, while in India, its’ just over the new car volume.
This means the space is poised for exponential growth and luxury cars will be
the fastest growing sub segment within this.
Ride is among India’s fastest-growing and largest chain of pre-owned,
multi-brand luxury car showrooms, offering end to end services from buying,
selling, servicing, insurance, roadside assistance to car modification and
more. It has seen tremendous growth year on year and is now present in seven
cities across North India (Karnal, Gurugram, New Delhi, Ludhiana, Dehradun,
Jaipur, and Chandigarh) - through a mix of owned and franchised outlets. Luxury
Ride has sold 800+ luxury cars and serviced over 10,000 cars since inception.
Its pre-owned luxury car portfolio includes Audi, BMW, Mercedes, Porsche,
Volvo, Jaguar, Land Rover, Mini Cooper, and others.
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