HMSI (Honda Motorcycles and Scooters India) has entered the used two wheelers business in India by opening exclusive Honda Best Deal pre-owned two wheelers outlets. Honda will buy old bikes and scooters and will refurbish them. It will sell these refurbished scooters and motorcycles with six-month warranty, knowhow, spare replacement, branding, etc..
To start with Honda has opened its 5 Best Deal dealerships at Bangalore, Delhi, Mumbai, Ahmedabad and Punjab. With this initiative, Honda wants to improve its presence in tier two and tier three cities where low cost Honda pre-owned bikes will attract more buyers. Also Honda can launch locality exchange programs for existing Honda customers who might be willing to exchange their old Honda bike with a new one.
At this occasion, head of operations (sales and marketing at HMSI), Naresh Rattan quoted:
We want to study how to reach the customers who are currently not able to buy Honda products. We will be refurbishing the products and also offering a six-month warranty, knowhow, spare replacement, branding, etc.. Entering the second-hand market will help us penetrate the rural areas, it will also help us retain customers. There is no need for Honda to get into this business but we want to learn from the business model and we are serious about it.
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