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Alongside a sharp rise in the sales of luxury cars in India in line with the rising disposable incomes and growing aspirations of Indian consumers, a parallel demand is growing for pre-owned cars within that segment.
Big Boy Toyz, a division of Magus Cars Ltd — a multi brand used luxury car dealer — has witnessed a sharp rise in its annual growth rate over the last few years. Having launched in 2009 and started operations in 2010, Big Boy Toyz is currently averaging sale of around 18 cars a month.
Incidentally, this is in line with the rising demand for luxury cars. The top four luxury car makers — Mercedes-Benz, Audi, BMW and Volvo sold an aggregate of 33,007 cars in 2015 up 13.6 per cent from 29,066 cars they sold in 2014.
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Anticipating a rise in sales numbers going forward, Big Boy Toyz, which is run by entrepreneur Jatin Ahuja, says it is now looking to scale up.
The company that was till now operating from its 3,800 sq ft studio on the MG Road in New Delhi, on Saturday inaugurated its new 36,000 sq ft multi-storey showroom located on the NH-8 in Gurgaon.
While the company currently holds an inventory of close to 50 cars (with an average ticket size of over Rs 1.25 cr), it is planning to increase the stock to 110 cars by the end of 2016.
The new showroom has a display capacity of more than 100 cars along with a dedicated Motor-Bar Express and a Work-of-Art Luxury Suite for its clients.
“We are confident that with our strong commitment towards quality and customer service, we shall be expanding to another 100+ car facility in the next year. We look forward to have close to 300 cars in stock and are positive to retail two cars a day,” said Jatin Ahuja, president, Big Boy Toyz, that deals in cars not older than 2012 and has not done more than 25,000 km.
“Each car goes through 151 quality checkpoints which is a comprehensive and stringent pre-procurement checklist. These 151 check points comprise, but not limited to, vehicle history, road test, insurance history, NCR check, RTO check to name a few,” said Ahuja, an automobile engineer, who got into the business at the age of 17 in 2003 when he joined Magus Group alongside SL Ahuja, chairman, Magus Group.