Toyota Kirloskar Motor (TKM) has
launched “Toyota Auction Mart” as it becomes the first auto manufacturer in
India to venture into used car auction business. Toyota Auction Mart (TAM) is a
first of its kind initiative in the Indian automobile industry and will start operations through a dedicated auction
facility at Bidadi (near Bangalore) in Karnataka. Every used car from all
brands will go through detailed inspection that will determine the current
quality level of the car thereby ensuring highest levels of QDR (quality,
durability & reliability) for the end users of the product.
All cars in the Toyota Auction
Mart will go through comprehensive 203 point inspection which is used to arrive
at a quality level of used vehicle. And each car will be checked for quality
level by TKM in-charge after due diligence of documentation. These 203 Points
inspection is based on global Toyota standards of QDR.
Currently, the Toyota Auction
Mart is a B2B (business to business) model. With this launch TKM aims to move
one step closer in ensuring a fair used car ecosystem in the country, enabling
a one stop shop for used car customers.
Commenting on the launch,
Naomi Ishii, Managing Director, Toyota Kirloskar Motor, said, “India’s used car
market continues to grow rapidly every year, yet remains largely unorganised.
The launch of Toyota Auction Mart signifies our efforts to develop a fair and
transparent used car market with increased reliability for our customers and
will contribute to the Indian society.
Toyota has been engaged in
auction through affiliates for more than 45 years now and we will leverage our
global experience and expertise of conducting auctions in markets across the
world to ensure the highest quality. We are committed towards creating a
reliable and transparent used car market which will enable faster disposal of
cars at right prices and right quality cars to the buyers,” he continued.
Also sharing his views on the
inauguration of Toyota Auction Mart, N. Raja, Director & Senior Vice
President, Toyota Kirloskar Motor said, “At Toyota, we are striving to
revolutionise the used car industry by increasing the reliability of Used Car
market for customers, which otherwise is considered as unreliable by many
customers in India.”
As more and more customers
come forward and rely on organised market, this will help us expand the organised
Used Car market. Toyota Auction Mart will also help OEM dealers to increase
their new car sales by faster liquidating their used car inventory, so that
they can purchase more used cars to support new car sales and provide many
variety of used cars to individual used car dealers at one place. We at Toyota
sincerely believe that relationship with used car customers can be strengthened
with collaborative effort of entire industry and I am very confident that
Toyota Auction Mart will be a strong support in this direction”, added Raja.
Source: Toyota Kirloskar Motor
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