Tata Nano a hit in second hand car market too

Tata Nano is now available in the second hand car market and that too at a large premium. Yet, the few available ones are zooming-off as soon as they are put on sale. The used car segment itself is being sold at a premium of about Rs 25,000–35,000 in comparison to the new cars which are there in the market.

Here is a verbatim transcript of Tanvi Shukla’s comments on CNBC-TV18.

It seems like as hundreds of applicants wait for their Nano to be delivered, Nano itself has made its way to the used car segment. Interestingly, the used car segment itself is being sold at a premium of about Rs 25,000–35,000 in comparison to the new cars which are there in the market.

A Mumbai-based dealer has already sold four of these pre-owned Nano cars and other dealers tell us that more cars are in the pipeline. These are in the mid- and the top-end segment for which there is much higher demand that the base models itself. Dealers say that the main reason for the cars to come into the market is that the original owners could not really get together the money to make the payment for Nano.

Sources say that several of these cars are actually coming from smaller towns where proxy book was done to buy these cars through smaller dealers who are not driving them to Bombay and selling them there at a premium of around Rs 25,000–35,000. More Nanos will be available sooner considering the demand which is there in the market.

Source: Moneycontrol