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Covid sparks distress sale of luxury cars

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Luxury car owners are desperately trying to dispose of their premium vehicles at a fraction of the purchase price as the pandemic and lockdowns impact businesses and jobs across India while causing uncertainty in key urban markets.Over half a dozen luxury car dealerships in Mumbai, Pune, Delhi, Chennai and Kochi said they are receiving an increasing number of requests from customers to find clients for their pre-owned vehicles at heavily discounted prices.

Several banks have also placed similar requests, they said.“Luxury car owners looking to sell their prized possessions usually do not trust independent brokers.

So, they reach out to organized channels, which include the existing dealership network. Once we have enough leads, we push.

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