Ford India seems to have taken cue from the likes of Maruti Suzuki (True value) and Mercedes Benz (Proven Exclusivity) by starting its very own used car business in India.
Ford saw the immense potential in the used car business in the country and launched its own wing for used cars dubbed ‘Ford Assured’.
Ford Assured (FA) services have been initiated in existing Ford showrooms in Delhi, Chandigarh, Jaipur, Pune and Kochi. If FA bears fruit, Ford is likely to open more showrooms and may even open designated FA centres like Maruti Did for True Value.
The basic concept will be similar to True Value and Proven Exclusivity barring the fact that FA is not brand specific and is similar to Mahindra’s used car business dubbed ‘First Choice’.
Mercedes-Benz was the first premium car brand to start the pre-owned car business, “Proven Exclusivity” in India in June 2010 and has sold more than 600 used cars within 6 months.
The market of pre-owned cars in India is expected at 10-15% of current new sales in 2010 and in the next couple of years, it will grow substantially. There are more than 30, 700 Mercedes Benz vehicles running in Indian roads creating a sizeable pool for Benz used car business. Related: Mercedes-Benz India clocks its highest-ever sales in 2010
Ford Assured will buy and recondition cars of all makes, brands, models. These vehicles will then be sold by FA as part of the new initiative by the company.
According a company statement several Ford dealers will become part of the project and FA will function in showrooms like; Harpreet Ford in Delhi, Bhagat Ford in Chandigarh, KS Ford in Jaipur, Kairali Ford in Kochi and Planet Ford in Pune.
“The demand for used cars has grown in India following the rising aspirations of the rapidly growing middle income customer group. Ford Assured allows us to offer our world class services to those who aspire to upgrade their vehicles,” Nigel Wark, Ford India Marketing Sales and Service, Executive Director was quoted as saying by the Indian Express.
Following suit of used car divisions of other car manufacturers Ford Assured offers reconditioning of cars by trained and experienced technicians, a 169 point quality check, one year warranty on all vehicles sold. Ford will likely tie-up with several banks so as to provide viable finance options for customers.