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Nice to see Honda to get into the used car business. Its actually ironically that they are doing this so late since all of us know that Honda cars still command a premium even in the used cars business.

Source: Honda to take on MUL in used cars

Japanese car major Honda is entering the fast growing segment of pre-owned cars and car exchange business that is largely dominated by industry leader Maruti through its ‘True Value’ programme.

Honda will not only buy old cars of any brand from people who wish to upgrade to the Honda badge but will also sell second-hand Honda cars to people, offering them some limited warranty and benefits.

“There is no broker involved and we offer a competitive price for their old cars, apart from other financing options. Its a package deal to the convenience of the customers,” Sen said.

Honda already had something on the lines of TrueValue called "Honda Terrace" but I hardly see any cars in their list. Hopefully they should catch up well.

I think Honda Terrace is a honda dealers innciative. I guess from now on the company will be involved in the activity.

"Auto Terrace" it is. They do keep a very low profile and do not have cars on display. I presume they are doing to spin that off, in "True Value" style with own showrooms

A decent bit of news. Altho its not mentioned abt the terms & conditions of these preowned Hondas - such as warranty, free services etc that MTV has.