Group Landmark, an India-based new-car dealer, is venturing into secondhand transactions, AutoCarPro reports.

Group Landmark, a subsidiary of publicly listed Landmark Cars Ltd., plans to deal in used cars of its existing marques, which include Honda, Mercedes-Benz, Volkswagen, Renault, Mahindra & Mahindra, Jeep, MG Motor and BYD. The company is targeting INR1.0 billion ($12.0 million U.S.) in revenue from this new segment in FY2024 (the 12 months to March 2024).

“Each of our OEM partners has a used car vertical. With this approach, we will be able to satisfy the respective OEM requirements in terms of conforming to their used car programmes. For instance, if it is a Jeep outlet, we will purchase a Jeep car, and sell it under the Jeep Select brand from our existing showroom. This will be a scalable, and a rather profitably scalable model,” said Group Landmark executive director Aryaman Thakker.

The “used cars” section on Group Landmark’s website is expected to be operational soon. The Mumbai-headquartered company has a presence in nine Indian cities. In FY2023 (the 12 months to March 2023), Landmark Cars had revenue of INR45.0 billion and INR850 million in after-tax profit.

 

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