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Market for pre-owned foreign luxury cars growing in India

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Photo Credit bigboytoyz.com

New Delhi, May 28:  The demand for fancy foreign luxury cars is witnessing a steep rise, with buyers, including from faraway northeast, picking up Lamborghinis, Maseratis and Range Rovers that cost up to Rs 1.5 crore apiece — but all pre-owned, a polite term for second-hand.

Big Boy Toyz, based in Gurugram, Haryana, is one firm that specialises in selling pre-owned foreign luxury cars in India.

It is perhaps the only one of its kind in the country that panders to the Indian buyers’ whim of owning a branded luxury car, but who are unable to cough up the price of a new one.

Jatin Ahuja, Founder and Managing Director of Big Boy Toyz, or BBT as it is often called, hit upon the idea of selling pre-owned foreign brands in 2009, when he found that Indians preferred exchanging their used foreign car for a new one.

He started off initially in 2007 as Magus Cars Ltd, which would import new cars. But Ahuja found that most buyers wanted to exchange their used cars for new ones, which led to a range of used cars in his possession and he ended up with losses.

2013-Range-Rover-Vogue

Photo cewdit bigboytoyz.com

This led to the launch of Big Boy Toyz — and the focus on pre-owned exotic cars.

Ahuja, who focuses on pre-owned cars that cost between Rs 50 lakh and Rs 1.5 crore and manages to sell at least one car a day, owns a showroom in Gurugram and a car studio in Sultanpur, New Delhi.

“I would like to focus more on cars in the bracket of Rs 50 lakh to Rs 1.5 crore rather than the Rs 1.5 crore to Rs 3 crore segment (the super-luxury segment). The volume of business in the first bracket is more than that in the Rs 1.5 crore-plus segment,” Ahuja told IANS in an interaction in his Gurugram showroom.

“I would like to do at least 75 per cent of my business in the Rs 50 lakh to Rs 1.5 crore segment,” he added.

Big Boy Toyz gets orders for its exotic cars through its online portal, bigboytoyz.com . Ahuja says 30 per cent of his business — of buying and selling second-hand exotic cars — comes from Haryana, and the rest from across the country.

The company has a collection of 120 cars in both the showrooms — ranging from BMWs, Mercedes, Porsches, to Land Rovers.

His company has already carved a niche for itself, and Bollywood stars are among his clientele.

The company aims for a sales target of Rs 1,000 crore by 2020. “At the rate at which our business is growing, I find the target of Rs 1,000 crore by 2020 absolutely achievable,” said Ahuja.

The company plans to open showrooms in other cities like Bengaluru, Chennai and Hyderabad, with demand pouring in from such cities, said Ahuja.

In 2016, Big Boy Toyz recorded an annual growth of 40 per cent with a turnover of Rs 195 crore, and aims to achieve a turnover of Rs 250-260 crore this fiscal year, he said.

Every pre-owned car goes through 151 check points and parameters — like age of the car, kilometres done, demand for the car and its supply, maintenance — before BBT buys them.

The demonetisation move hit sales a bit, but things have since stabilised, says Ahuja.

“The November and December sales were a bit unstable due to demonetisation, but it picked up from January onwards,” he said, adding that it was due to the well-heeled clientele that he caters to.

Ahuja feels that the Indian automotive industry has evolved a lot over the past decade and has huge scope.

“The design of Indian cars is much better, but there is still room for improvement in terms of reliability,” he said, adding that through Big Boy Toyz he is attempting to change the negative perception among Indians of buying pre-owned cars.

(IANS)

By Sakshi Srivastava

(Sakshi Srivastava can be reached at [email protected])

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Audi Q7 launches in India for Rs 67.77 lakh

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Audi Q7

New Delhi, Sep 4: The 2017 Audi Q7 petrol engine is now available in India. The new variant has been dubbed the 2017 Audi Q7 40 TFSI. Earlier, the car was only available with a diesel engine in India.

Propelling the car is the 2.0-litre TFSI engine that powers multiple models from the fleet of the German carmaker – including the TT Coupe with 252 horsepower and 370 Nm of torque making the SUV capable of going from 0 to 100 km/h in just 6.9 seconds. The engine comes mated to an 8-speed Tiptronic transmission.

“Our flagship SUV Audi Q7 had been the only product in its segment in India when it was launched. A popular choice of Bollywood celebrities and big industrialists, the Audi Q7 lead the way for the luxury SUV segment in India. With the introduction of the Audi Q7 40 TFSI quattro, we are now offering customers an exciting line up of their preferred SUV to choose from and own their favorite Audi. This marks the debut of the first-ever luxury SUV in its segment in India and reigning segment leader with a petrol engine,” said Rahil Ansari, Head, Audi India.

Audi is already having features like virtual cockpit, self-park technology and the adaptive suspension set up which is same in diesel-powered sibling.

“This is the year of ‘Audi Reloaded’ for us. ‘Audi Reloaded’ just doesn’t mean new products or new touch points but it signifies a nimbleness to tweak the strategy as per the market demand. We have taken a strategic decision to increase our petrol mix and started off the process with the launch of the Audi Q3 1.4 TFSI in March this year. We do have some other surprises planned for this year,” added Ansari.

Wefornews Bureau

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Hike in GST cess makes cars expensive

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cars

NEW DELHI, Aug 30: The Cabinet today increase the cess on mid-size, large cars and SUVs from 15 per cent to 25 per cent under the new GST regime.

With GST prices of most SUVs were cut between Rs 1.1 lakh and Rs 3 lakh which will increase in cess, the cuts will be reversed.

The GST council, the apex tax rate setting body under the Goods and Services Tax (GST) regime raised the cess with the amedment to the Schedule of section 8 of the GST (Compensation to a State) Act, 2017.

It had approved on August 5 to raise cess on SUVs, mid-sized, large and luxury cars that had become cheaper post GST rollout on July 1.

Under GST, a cess was levied on demerit goods like cars, tobacco, and coal to compensate the loss of revenue.

Cars attract the top tax rate of 28 per cent. On top of this, a cess of 1 to 15 per cent is levied for the creation of the state compensation corpus.

The date for implementing the hike in the upper limit of the cess from 15% to 25% will be decided by the GST Council when it meets in Hyderabad on September 9.

Presently, large motor vehicles, SUVs, mid-segment cars, large cars, hybrid cars and hybrid motor vehicles attract a cess of 15 per cent over the 28 per cent GST rate.

Small petrol cars of less than 4 meters and 1,200 cc attract a cess of 1 per cent, while small diesel cars of less than 4 meters and 1,500 cc engine attract a cess of 3 percent.

GST Scenario 

GST present slab and upcoming slab rate on cars:-

Existing GST Rates Rate Classification
Petrol Cars with Engine < 1.2 Litre 28% + 1% Cess Petrol Cars for Mass Market
 Diesel Cars with Engine < 1.5 Litre 28% + 3% Cess Diesel Cars for Mass Market
 All other Cars 28% + 15% Cess All other Cars
GST Rates post New Development Rate Classification
Compact Petrol Cars with Engine < 1.2 Litre 28% + 1% Cess Compact Petrol Cars under 4 Meter
Compact Diesel Cars with Engine < 1.5 Litre 28% + 3% Cess Compact Diesel cars with Length < 4 Meter
Mid Segment Cars with Engine < 1.5 Litre 28% + 25% Cess Cars with Length > 4 Meter

Based on Existing Slabs, expected Category

 

GST Impact after increase in 10% Cess

Models Price Hike
Maruti Baleno, Honda Jazz, WRV, I20, Ford Ecosport, Maruti Brezza or Segment lower cars etc No Price Hike
Honda City, Hyundai Verna, Maruti Ciaz, Renault Duster, Nissan Terrano etc Rs 70K to Rs 1 Lakh
Mahindra XUV 500, Tata Hexa, Tata Safari Storme, Toyota Innova Crysta, Skoda Octavia, Toyota Corolla, Jeep Compass Rs 90K to Rs 1.5 Lakh
Toyota Fortuner, Ford Endevaour, Skoda Superb, VW Tiguan Rs 2 Lakh to Rs 2.5 Lakh
Audi Q3, A4, A6, BMW X1, 3 Series, GT,  Benz C, E, GLE, GLA Class Rs 2.5 Lakh to Rs 4 Lakh

 

Wefornews Bureau

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Choose the Best: Hyundai Verna, Honda City & Maruti Suzuki Ciaz

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verna

New Delhi, Aug 24: Hyundai Verna introduced its new segment cars in the competition with mid-size sedan segment in Indian market – Honda City and Maruti Suzuki Ciaz. 

They are different from each other in various ways:

Design

The new Hyundai Verna follows the Fluidic 2.0 design philosophy with very simple appearance. The Honda City on the other hand has a bold design with funky look and Maruti Suzuki Ciaz  has a little old but manages to look sophisticated.

Engine

The Hyundai Verna, Honda City and Maruti Suzuki Ciaz are all offered with petrol and diesel engines.

Verna offered a set of 1.6-litre petrol and diesel engines. Both the engines are available with a six-speed manual and six-speed automatic gearbox. The diesel puts out 123bhp and 151Nm of torque while the diesel motor can dish out 128bhp and 260Nm of torque.

The Honda City is comes with 1.5-litre petrol and diesel engines. The 1.5-litre iVTEC (petrol) unit is capable of churning out 119bhp and 145Nm of torque while the 1.5-litre iDTEC (diesel) can dish out 100bhp and 200Nm of torque. The petrol engine can be opted for with a five-speed manual gearbox or a CVT while the diesel is only available with a six-speed manual.

The Maruti Suzuki Ciaz uses a 1.4-litre petrol and a 1.3-litre diesel engine that are tuned to produce 93bhp/130Nm and 90bhp/200Nm, respectively. The petrol can be had with a five-speed manual and a four-speed automatic gearbox. The diesel can only be had with a five-speed manual gearbox.

Price

The new 2017 Hyundai Verna ex-showroom, New Delhi price is between Rs 7.99 lakh and Rs 12.62 lakh.

The Honda City price starts from Rs.8.46 and goes all the way up to Rs 13.43 lakh.

The Maruti Suzuki Ciaz is the cheapest of the lot with the price starting at Rs 7.66 lakh and going all the way up to Rs 11.55 lakh.

Wefornews Bureau

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