Toyota Launches Used-Car Auction Business in India

Toyota Motor Corp. is launching Toyota Auction Mart, a multi-brand used-car auction operation based outside Bangalore, India.

The company says all used vehicles sold by the new unit will first go through a 203-point inspection to assess their quality, durability and reliability, then rated accordingly. Toyota operates in India through its venture with Kirloskar Group.

India's used-car market is growing but is largely unorganized. Toyota says the new auction business will apply expertise gained from its decades of experience through affiliates with similar operations elsewhere in the world.