Toyota Kirloskar Motor (TKM) has launched ‘Toyota Auction Mart (TAM), thereby becoming the first auto manufacturer in India to venture into the used car auction business. Toyota Auction Mart is a first of its kind initiative in the Indian automobile industry and will start operations through a dedicated auction facility at Bidadi, near Bangalore, in Karnataka.
Every used car from all brands will go through detailed inspection that will determine the current quality level of the car thereby ensuring highest levels of QDR (quality, durability and reliability) for the end user.
The company says all cars in the Toyota Auction Mart will undergo a comprehensive 203-point inspection for quality after due diligence of documentation. This 203-point inspection is based on global Toyota standards of QDR.
Commenting on the launch, Naomi Ishii, managing director, Toyota Kirloskar Motor, said, “India’s used car market continues to grow rapidly every year, yet remains largely unorganized. The launch of Toyota Auction Mart signifies our efforts to develop a fair and transparent used car market with increased reliability for our customers and will contribute to the Indian society.
“Toyota has been engaged in auction through affiliates for more than 45 years now and we will leverage our global experience and expertise of conducting auctions in markets across the world to ensure the highest quality. We are committed towards creating a reliable and transparent used car market which will enable faster disposal of cars at right prices and right quality cars to the buyers,” he continued.
Sharing his view on the inauguration of Toyota Auction Mart, N Raja, director and senior vice-president, Toyota Kirloskar Motor, said, “At Toyota, we are striving to revolutionise the used car industry by increasing the reliability of used car market for customers, which otherwise is considered as unreliable by many customers in India. Toyota Auction Mart will also help OEM dealers to increase their new car sales by faster liquidating their used car inventory, so that they can purchase more used cars to support new car sales and provide many variety of used cars to individual used car dealers at one place. We at Toyota sincerely believe that relationship with used car customers can be strengthened with collaborative effort of entire industry and I am very confident that Toyota Auction Mart will be a strong support in this direction.”