With the entry into the franchise business model, the company has launched its first such exclusive store in Jaipur.
CarDekho has forayed into the certified pre-owned car market through a franchise business model. With this, an automobile portal has opened its first such exclusive store in Jaipur.
CarDekho is eyeing at investing $20 million in its used vehicle business this fiscal. It is aiming to build 50 such exclusive franchise stores and 200 Retail Trustmark Locations by the end of this financial year.
The company claims that its stores would come with an offer of an engine and transmission warranty for six months or 7,500 km as well as a seven-day shield.
CarDekho already has more than 50 Gaadi Stores across India to sell used cars.
Amit Jain, Co-Founder and Chief Executive Officer, CarDekho, said, “We are entering into a franchise business model for selling Trustmark cars with an aim of providing economical personal mobility solutions to people in the most transparent and hassle-free manner.”
“There is a surge in demand for used cars as the coronavirus pandemic has reinforced the need for a personal vehicle. In 2019-20, there were 1.3 used car transactions for every new car transaction. We see this number going well above 1.8 times in the current year as people prefer personal mobility at a lower cost,” he added.
CarDekho will target Delhi-NCR and Bengaluru for the next upcoming stores.