Tag - Pre-Owned Cars

Volkswagen Passenger Cars India has announced the launch of the Autofest Mega Exchange Carnival 2024, an event offering customers the chance to exchange their old cars and upgrade to a new Volkswagen. This initiative, which runs from July 3 to July 20, 2024, promises attractive deals and benefits for a limited time. In conjunction with the Autofest, Volkswagen India also unveiled the rebranding of its used car business from 'Das WeltAuto.' to 'Volkswagen Certified Pre-Owned.' This change is in line with Volkswagen's global transition and aims to enhance the visibility and value of its pre-owned car program in the Indian market. Autofest Mega Exchange Carnival The Autofest Mega Exchange Carnival is designed to provide customers with compelling reasons to choose Volkswagen. From attractive trade-in offers to special deals on new models, this event represents a unique opportunity for car owners looking to upgrade their vehicles. Rebranding to 'Volkswagen Certified Pre-Owned' Volkswagen's used car business has been rebranded as 'Volkswagen Certified Pre-Owned,' aligning with the brand's global positioning. The first showroom under this new branding was inaugurated in Coimbatore. This strategic move aims to leverage the core strengths and trust of the Volkswagen brand, further establishing its presence in the pre-owned car market. Growth and Future Prospects Volkswagen's used car business has seen significant growth, with a ten-fold increase in volumes over the past five years. The retail sales of pre-owned cars grew by 12 percent last year, a trend that continues into the first half of 2024. This growth is notably driven by demand from Tier 2 towns. The recently launched 6th Edition of Indian Blue Book reported the residual value of the Volkswagen Taigun at over 81% after two years, highlighting the strong resale performance of Volkswagen cars. This is a testament to the brand’s commitment to providing high-quality, reliable vehicles. Volkswagen India currently operates 139 touchpoints trading in certified pre-owned cars, with 36 of these functioning as exclusive certified pre-owned outlets. The company plans to expand this footprint in a phased manner by March 2025. Also Read: Volkswagen diluting stake in India, poor market share responsible?