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Tata small car to shake up used car market

Top used-car dealers across major cities are shifting track in response to the Rs. 1 lakh Tata car by shifting focus to high-end cars, such as the Honda Accord and City, Chevrolet Optra and Tavera, and Skoda Octavia.

Apnaloan.com Research Bureau

10 Aug 2007

Top used-car dealers across major cities are shifting track in response to the Rs. 1 lakh Tata car by shifting focus to high-end cars, such as the Honda Accord and City, Chevrolet Optra and Tavera, and Skoda Octavia. The reason: they fear second-hand car buyers, who spend Rs 1.5 - 2 lakh, may spot more value in the new car.

Some dealers are planning to tie up with banks such as UTI Bank and Barclays Bank for inventory funding and consumer loans at competitive rates.
Dealers say the launch of the Tata car in mid 2008 will cause a 40% drop in volumes in the pre-owned car as well as two-wheeler markets.

Used-car dealers may have to fend for themselves without too much support from auto companies after the launch of the Tata car. Players such as Maruti and Hyundai, which will fight the Tata car in the basic segment, are more concerned about protecting their basic models.

According to media reports Maruti-Suzuki will completely redesign Maruti 800 (similar to what the company recently did with Zen-Estilo) next year. The company will rebrand it and even power it with a lower power 600cc engine compared to the current 800cc engine.

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