This article is contributed by Mr. Sumit Garg, MD & Co-founder, Luxury Ride.
Ever been awe-struck looking at the stylish luxurious car with terrific design, running dynamically down the road. While attracting the crowd's gaze, there must be many who are invigorated with the desire to own an exclusive luxurious car. But are unable to fulfill their dreams owing to financial constraints.
Realizing the unfulfilled aspirations of the consumers, Sumit Garg incepted Luxury Ride to provide pre-owned best quality luxury cars to the consumers at the most competitive price. Luxury Ride started in the year 2015, is certified India’s biggest pre-owned, multi-brand luxury car company, and is the leading dealer in the pre-owned luxury car segment.
Luxury Ride - Company Highlights
|Startup Name||Luxury Ride|
|Co-founder & MD||Sumit Garg|
The Start of Luxury Ride
It all started with Sumit Garg’s unflinching passion for luxury cars since his childhood which could not be evaded even during his engineering days in RVCE Engineering College. But after completing his graduation, when he was faced with two options, one leading to the conventional path of making a career in engineering and the other of pursuing the childhood passion, he without any doubt decided to mold his passion for luxury cars into a promising career.
Hence, in the year 2012, right after his education, Mr. Garg Co-founded KoiBhiCar.com, an online marketplace for pre-owned luxury cars. While being in the industry, he soon realized that owning a luxury car came with acute financial obligations. The youth formed the major bulk of this aspirational population desiring to own a luxury car. Even though their disposable income and buying capacity raised substantially over the years, they still were unable to buy luxury cars and settled for economical cars with their hard-earned money. Additionally, he perceived the need for venture dealing in luxury cars that promoted inclusivity of more brand names with the help of a pivoted business model.
Sumit Garg was perceptive enough to counter the problem with his enthralling idea of venturing into the pre-owned luxury car segment. This led to the inception of Luxury Ride in 2015 which was aimed at organizing the otherwise scattered pre-owned car industry by exceptionally raising the service standards.
What is Luxury Ride?
Luxury Ride is an end-to-end quality product and service provider which monitors and assists the customers throughout the process of buying the vehicle to support them in maintaining the car even after the purchase with the after-sales services. It is focused on elevating the experience of the customers. For a hassle-free experience, the pre-owned luxury car aggregator offers 15 days money return guarantee. It even provides easy premium financing options and lucrative insurance deals, showing value for the customer's money.
Nonetheless, the purchase from Luxury Ride has been backed up with a 1-year warranty assured of genuine, authentic parts, coming with 6 months warranty on the gearbox and engine. For the convenience of customers, it also provides a doorstep test drive facility. Understanding the complexity and importance of documentation, verification, thorough inspection in purchasing a pre-owned car seamlessly takes care of all the legal paperwork and testing procedures prior to handing the vehicle to the customer.
Challenges Faced by Luxury Ride's Founder
But the journey was not as simple and easy as it sounds while listing the benefits of Luxury Ride. In the beginning, Mr. Garg was clueless as he did not know where to start. He struggled with funding to get the optimum capital required to set up the business. Reminiscent of one such incident, he recounted the challenge he faced during the launch of the first showroom in Delhi. That time he had no cars to showcase in the showroom. He requested his mentors and investors to lend him cars for stationing them in the showroom.
Having overcome the roadblocks of setting up Luxury Ride, organizational and management challenges continually surfaced, requiring immediate attention on issues of regulating and managing manpower, staff training, devising strategies according to the objectives.
But he was never discouraged with the difficulties coming his way. His incessant love for luxury cars motivated him to persistently work hard in his venture. He recognized the loopholes and showed great agility in rectifying the flaws. Undeniably his efforts were rewarded with the launch of the second flagship showroom in his hometown, Karnal. It is India’s largest showroom in the pre-owned luxury car segment. The outlet is spread across a 1-acre space with a 4-floor building that easily accommodates the display of 50+ cars.
Growth & Future Plans of Luxury Ride
Over time Luxury Ride made its foothold strong in the northern belt of India by launching 7 showrooms in the leading cities of New Delhi, Gurugram, Karnal, Ludhiana, Chandigarh, Jaipur, and Dehradun. By serving all the verticals of customer requirement, Luxury Ride has secured a promising base of 4000+ loyal customers where they have sold 1200+ cars and serviced more than 10,000+ cars.
The achievement can be attributed to the visionary of Mr. Garg who was never convinced and hence never settled with just the buying and selling prospect of Luxury Ride. Rather, he was aspirational for making it a 360-degree service under a single roof. He wanted to build a platform that provided every possible solution concerning the pre-owned luxury cars.
Having achieved a substantial milestone, the journey doesn’t end here. Sumit Garg continually strives to establish leadership in the industry by creating a presence of Luxury Ride PAN India with future plans to open 50 new showrooms across the country.
FAQs on Luxury Ride
What is Luxury Ride?
Luxury Ride is certified as India’s biggest pre-owned, multi-brand luxury car company, and is the leading dealer in the pre-owned luxury car segment.
Is Luxury Ride an Indian Company?
Yes. Luxury Ride is an Indian company headquartered in Delhi.
Where are Luxury Ride's showrooms located?
Luxury Ride made its foothold strong in the northern belt of India by launching 7 showrooms in the leading cities of New Delhi, Gurugram, Karnal, Ludhiana, Chandigarh, Jaipur, and Dehradun.