What's New At Magus?

Magus has made a huge impact in the field of pre-owned cars in India. By simplifying the process and offering great deals, they have carved a niche for themselves in the luxury automobile industry. Find the latest news and reviews about Magus here.

  • Buying Used Cars Considered 'Cool' Among the Youth

    So what if your paycheck doesn't allow you to buy a brand new car? Purchasing a pre-owned one of your model of choice is an equally good option! Quite interestingly, this is what is happening with the youth in India these days. People as young as 25-year-olds are busy buying pre-used cars as their first ride.

    In the recently-concluded financial year, it was revealed that the sale of pre-used cars had grown by 15%. While speaking to Times of India in April, Vinay Sanghi, CEO of Cartrade.com, explained, "The average age of the used car buyer is lower than new car buyers, with people as young as 25 to 28-year-olds opting for a pre-owned car in cities like Pune and Bangalore".

    The young customers purchase pre-used cars to sate their aspirational needs as it gives them varied options to choose from, depending on the price and desired features. "We witnessed a 7-8% decline in first time buyers in the new car market but the used car business has been a phenomenon this year. If we were to see that as a separate business it would be the fourth largest car company in India," said Mayank Pareek, COO, Maruti Suzuki.

    Mahindra First Choice Wheels and Maruti Suzuki-owned True Value are two popular firms that have a business of selling and buying pre-used cars in the country. Magus Cars is more niche and only deals with pre-owned luxury cars.

  • Mercedes to Launch 8 New Creations this Year

    After witnessing a phenomenal growth of 32% in the sale of Mercedes Benz cars in India in 2013 thanks to its two successful vehicle models, A Class and B Class, the German automaker has decided to launch 8 new cars in the country this year.

    Eberhard Kern, Managing Director, Mercedes Benz India, revealed his plans in an interview with PTI, "We are aiming at double digit growth. You can expect a similar number of launches this year as we did in 2013. We have lined up a number of launches in 2014. It's a kind of work in progress."

    Although the company is still deciding on the new vehicles, SUV GLA and sedan CLA Class are included in the list for sure. Kern also talked about the luxury SUV market that was on the rise in the country. "It is a big and growing segment and today we have portfolio gaps there. By 2015, we will plug most of them," he said.

    In addition to this, the firm is thinking of assembling more models in the country. Currently, sedans - C, E, S Class, and SUVs - ML and GL models are assembled at the Pune-based manufacturing plant of Mercedes Benz. Mercedes Benz also plans to keep introducing new products in India as well as expand its presence in smaller cities all over the globe.

  • Automobile Prices to Go Up from July 1

    Buying a brand new two-wheeler or a car has just more expensive and that has left car makers paranoid. In February this year, the interim budget announced excise duty cuts. Unfortunately, June 30 marks the lapse of these cuts.

    While speaking to Hindustan Times, Rakesh Srivastava, Vice President (Sales & Marketing), Hyundai India, said, "We hope the government will extend the current notification till July 7. Else we will have to bill on revi-sed excise rates which means increasing prices on July 1."

    The Modi-led government, on the other hand, is expected to retain the excise cuts in the first half of July when it presents its first full budget. Auto makers are concerned, as according to them, they will not be able pay up the skyrocketing taxes for more than 3 or 4 days.

    Despite this, some automakers are ready to wait till the budget is announced on July 7 instead of increasing the prices on July 1. "I think it is a given that the rate of excise duties will be retained as there has been no improvement in market sentiment. Companies may say they would increase prices on July 1 but that is only an attempt to sell more cars in June. It will be illogical for them to increase prices on July 1 only to reduce them on July 7," said an industry insider who wished to remain anonymous while speaking to Business Standard.

    After witnessing a fall in the sales of passenger vehicles for two fiscal years in a row, the automotive industry postponed price hikes in April. Despite the excise cuts, the market was hardly relieved. May, however, was a better month as the sales improved post the announcement of election results. If the situation remains the same, car prices will soar and that will definitely spell tough times for the Indian automobile market.

  • Auto Experts Predict a Hike in Sale of Pre-owned Cars

    According to data provided by the Society of Indian Automobile Manufacturers, India, in 2012, it was revealed that 2.68 million new passenger cars including SUVs and vans, were sold in the country the same year. Now, new estimates claim that this ratio will keep evolving in favour of the pre-used car market in the coming five years.

    By 2018, the automotive industry is expected to sell two used pre-cars for one new car. If estimates are to be believed, pre-used car in India are selling 1.2 times faster than new cars and currently, only 18 % of the market is controlled by the organised sector.

    While speaking to Business Standard, Former managing director of Maruti Suzuki, Jagdish Khattar, explained, "There is a huge growth in the used cars industry in the last few years, compared to the new cars segment. With the entry of more organised players in the segment it will further increase and we are set to tap this potential."

    Mahindra First Choice Wheels and Maruti Suzuki dominates the market offering pre-used passenger cars. Rajeev Dubey, President (Group HR, corporate services and after-market) at Mahindra & Mahindra, said, "For a used car buyer, the quality of the car and the price of the car are the two main things. A second-hand car buyer is not a second class buyer. For him, it could be his first car. The market for used cars in India is huge."

    When it comes to pre-used luxury cars, Magus Cars is one of the first names to come to the mind. A well-known name in the industry, it sells variety of cars; some of which are Bentley, Porsche, Koenigsegg, Spyker and Rolls Royce.

What's New At Magus?

Magus has made a huge impact in the field of pre-owned cars in India. By simplifying the process and offering great deals, they have carved a niche for themselves in the luxury automobile industry. Find the latest news and reviews about Magus here.

  • Buying Used Cars Considered 'Cool' Among the Youth

    So what if your paycheck doesn't allow you to buy a brand new car? Purchasing a

    Read More
  • Mercedes to Launch 8 New Creations this Year

    After witnessing a phenomenal growth of 32% in the sale of Mercedes Benz cars in

    Read More
  • Automobile Prices to Go Up from July 1

    Buying a brand new two-wheeler or a car has just more expensive and that has left

    Read More
  • Auto Experts Predict a Hike in Sale of Pre-owned Cars

    According to data provided by the Society of Indian Automobile Manufacturers, India,

    Read More
  • Buying Used Cars Considered 'Cool' Among the Youth

    So what if your paycheck doesn't allow you to buy a brand new car? Purchasing a pre-owned one of your model of choice is an equally good option! Quite interestingly, this is what is happening with the youth in India these days. People as young as 25-year-olds are busy buying pre-used cars as their first ride.

    In the recently-concluded financial year, it was revealed that the sale of pre-used cars had grown by 15%. While speaking to Times of India in April, Vinay Sanghi, CEO of Cartrade.com, explained, "The average age of the used car buyer is lower than new car buyers, with people as young as 25 to 28-year-olds opting for a pre-owned car in cities like Pune and Bangalore".

    The young customers purchase pre-used cars to sate their aspirational needs as it gives them varied options to choose from, depending on the price and desired features. "We witnessed a 7-8% decline in first time buyers in the new car market but the used car business has been a phenomenon this year. If we were to see that as a separate business it would be the fourth largest car company in India," said Mayank Pareek, COO, Maruti Suzuki.

    Mahindra First Choice Wheels and Maruti Suzuki-owned True Value are two popular firms that have a business of selling and buying pre-used cars in the country. Magus Cars is more niche and only deals with pre-owned luxury cars.