Carnation Auto, a multi-brand auto solutions provider, is scouting for franchise partners for expansion in the used car section. It plans to expand its network to 200 outlets from 17 currently.
"About 90 per cent of used cars are sold through the unorganised market. In addition, a large portion buy cars from friends and relatives. We offer vehicles with service support across the country in addition to a host of other features," said Jagdish Khattar, chairman and managing director, Carnation Auto.
The used car market in India has posted a compounded annual growth rate (CAGR) of 20 per cent in the last five years. From three million units sold last financial year, the market is expected to grow to 7.8 million units by 2016. It presently sells 200-220 used car units every month.