Kia to enter used car business in 2022

The used car maker is expected to be 2-times the new car market by 2025.

Hardeep Singh Brar, Vice President and Head of Marketing and Sales, Kia India, has confirmed that the company will set up a used car business next year.

Brar added that since the Seltos will soon turn 3-years old, it would be the ideal time to enter the used car market, especially in larger cities. The used car market is currently said to be about 1.4 times the new car market and is expected to be 2-times the new car market by 2025.

Of late, used car prices are on the rise. It is estimated that prices have increased by 5-10%. The spike in used car prices is said to be the result of people holding on to their vehicles over concerns about the supply of new cars.

Source: Autocar India