Sumit Garg, MD & Co-Founder, Luxury Ride Company recently joined with NewsX as part of the NewsX India A-List, where he discussed his start-up trip, the goal of his business, and the future plans of Luxury Ride company.
Sumit Garg is a first-generation entrepreneur who wants to carve out a niche for himself in the industry. He co-founded Luxury Ride, one of India’s fastest growing pre-owned luxury car companies, like a dreamer who turned his love for luxury cars into a career. He is a proactive businessman with an excellent understanding of the corporate world who approaches even the most mundane activities with absolute discipline and commitment. His cool demeanour makes him an excellent coach for his entire company’s staff. His investment in the company is not just monetary; he is still interested in the day-to-day activities.
With a modest beginning as the first showroom of Luxury’s Ride in Delhi, his strategic inputs and construction expertise have resulted in substantial business growth. The business now boasts seven showrooms across India. He said, “We opened our second showroom in karnal which is India’s biggest beyond luxury car showroom. Then we went to more cities like Chandigarh, Dehradun, Ludhiana, Jaipur, Gurgaon, now we have seven showrooms in North India”. “What we are doing is we are providing luxury cars at an affordable price with affordable maintenance and yes that is available in tier two and tier three city,” added Sumit.
When asked about what are the after-sales services they offered, He said, “We offer complete service whatever is there related to cars. We are not limited to buying and selling. We are in after-sales services like servicing, detailing, car insurance, car loans, documentation, everything related to cars. We are your car’s doctor like a family doctor, or you can say family car doctor, we do everything. So, we can come back. So, that is where we are unique in the market and we are the only place I see myself as in the virgin space we have entered and we have created.”
However the concept of the used car in India is still a new idea, When asked how they are countering it. He said, “ yes, there was a barrier if you talk about before I entered this market. There was a huge huge problem in people’s psychology. But now things are changing and they are earning more. If they like one car, then they’ll keep it for three years. Later they’ll buy another car because they’re not selling it for any problem but because they want to buy or they want to switch over to new ones”.
“India has several times more potential than many other places. Trust me on this and it is that the era is coming slowly. India’s population is great in numbers. The students’ incomes are increasing, the kind of efforts the government is putting into the kind of growth India is having and So it will be the biggest market but it will take some time. Of course, there’s a huge potential,” added Sumit.