Boys And Machines posted reassuring sales figures in the first year of business
Boys and Machines, a known name in the luxury pre-owned car space, posted reassuring business in the first year of operations. The company sold a number of desirable, luxury and sportscars last year, including a Rolls Royce Ghost that had sold for Rs 3.65 Cr. Also, a rather exclusive Lamborghini Huracan Aveo CV Special edition was retailed for Rs 2.89 crores.
The pandemic has made the demand for luxury pre-owned cars scale new heights. There has been an overall hike in used car sales pan India and the same has reflected in the luxury and performance cars space as well. Boys and Machines has now disclosed some key insights into its business and customer demands.
Tier 2 and Tier 3 cities had the maximum traction. Around 40% of the total sales were from Tier 2 and Tier 3 cities. The number of queries rose by 20%, compared to the past six months. The dealer also reveals that a decent 15% increase was also observed in the enquiries from female customers. To add to this, 10-12% of the existing customers are females.
Founder Siddharth Chaturvedi hopes the demand for luxury pre-owned cars to shoot higher in the days ahead. The positive rise is expected to hit 65% in the next 2-3 years. BAM has sketched aggressive growth and business plans for milking the maximum out of this. We had detailed their growth plans in a previous story, where we had revealed the plans of opening dealer facilities in Ahmedabad, Indore, and Chandigarh. The pandemic has delayed the expansion slightly. However, now the company has revealed its intention to open an outlet in Goa as well.
Goa evidently has an epic car culture and a strong demand for pre-owned luxury and sports cars. Boys And Machines had delivered as many as 8 cars to Goa last year. It had also procured a few desirable vehicles from India’s party capital. The plan of setting up a dealership in Goa thus eyes handsome sales growth.
There are, however, no promises yet on expanding to South Indian markets. Bangalore, Chennai, and Kochi have great market potentials for luxury pre-owned cars. However, BAM says it is too early to commit anything, but these cities are on the bucket list for the distant future.
Boys and Machines has a hassle-free ownership experience of pre-worshipped luxury cars as its key USP, and offers six months warranty on the engine and transmission of all of its inventory. The dealer has its state-of-the-art service facility/workshop running in Gurgaon. Similar workshops would be set up in the other sales facilities as well, in the days to come.