Chase India and Consumer VOICE have released “Unlocking True
Potential of Pre-Owned Car Industry post COVID-19” to offer a roadmap for a
robust and resilient policy ecosystem for the used car industry.
In a nutshell, the report emphasises that the Ministry of Road
Transport and Highways (MoRTH) should explore the possibility of creating a
working group, with representation from all relevant stakeholder groups
including government, think tanks, academia, industry players and industry
associations to ensure a multi-sectoral and collaborative approach. This would
keep consumers in the used-car space protected, as well as unleash the growth
potential of the sector.
The booming pre-owned car industry has spawned various types of
players - online and offline - who act as intermediaries in the transaction
between the buyer and the seller. These transactions take place through online
platforms, physical offices, garages – and are mostly unorganized.
In the report, Chase India and Consumer VOICE highlighted the need
to define ‘motor vehicle intermediaries’ (MVI) and regulate the fast-growing
pre-owned car industry to ensure that consumers remain protected in the space
and the sector realises its growth potential.
Ashim Sanyal, Chief Operating Officer, Consumer VOICE said that,
consumers would be the biggest beneficiaries in case Motor Vehicle
Intermediaries come under the ambit of law and this would ensure consumer
empowerment as they would not be held accountable in case of misuse of their
vehicles by intermediaries.
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Voluntary Organisation in Interest of Consumer Education (VOICE) is a consumer protection group set up by teachers and students
at Delhi University in in 1983 and their mission is Consumer Empowerment,
Awareness, Redressal and Advocacy.
Source: Pre-Owned Car Industry Press
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