Tata Motors to enter used car market

Mumbai: The used car market is gearing up. After Maruti Udyog''s TruValue second-hand automobiles and the announcement of a possible entry of Mukesh Ambani''s Reliance Retail making a possible entry into the second-hand car market, Tata Motors, the country''s second largest automobile major, is planning a similar move.

The used market is dominated by informal deals, with the organised sector accounting for only 20 per cent of the business through players such as Maruti (True Value), Hyundai (Advantage), Ford (Assured), Mahindra (Automart India) and Honda (Auto Terrace).

Rajiv Dube, president, passenger car business unit, Tata Motors, said. "When the time is right we will go for it...may be this year."

The used car network is likely to run though Tata Motors'' dealership network.