Big Boy Toyz to strengthen EV portfolio
Expects demand to go up both in hybrid and pure electric vehicle sales in the next 2-3 years
Hyderabad: Pre-owned luxury cars company Big Boy Toyz is seeing a pickup in demand for hybrid and electric vehicles over the last few years. The company which has just one per cent of electric vehicles in its portfolio expects it to go up to over 10 per cent in three years.
The company currently sells a range of vehicles starting from Rs 50 lakhs to Rs 4 crore, across diesel, petrol, electric and hybrid models. The company today has showrooms in Hyderabad, Gurugram and Mumbai with plans to expand to Ahmedabad and Kolkata soon. It deals with 24 brands, including Ferrari, Bentley, Lamborghini and as many as 150 models.
Jatin Ahuja, founder & CEO, Big Boy Toyz, told Telangana Today, “We have sold about 70 units of hybrids in the last 2-3 years. We have sold Toyota Lexus, BMW i8 and Volvo plug-in hybrid cars. In the pure electric segment, we are waiting for Tesla’s roll out. As soon as Tesla launches its EVs, we expect to make them available with us within 3-6 months in India.”
“EV is a new segment for all automobile companies. It needs a government push to achieve volumes. It is easier to penetrate the utility EV segment rather than the luxury segment. In the luxury car space, electric vehicles need to get a strong foothold. Though Mercedes and Jaguar launched their vehicles in the luxury segment, the demand and volumes are yet to pick up. Once Tesla introduces its EV portfolio, it may change the luxury market dynamics.”
Hyderabad market
Pan-India, Big Boy Toyz finds markets such as Hyderabad, Mumbai, Delhi-NCR as the top markets for its entire portfolio, followed by Bengaluru, Chennai, Pune and major cities of Gujarat.
“Hyderabad has consistently been one of our top three markets and we have been selling 150-180 cars here every year. We are catering to the entire south through our Hyderabad showroom. We have created workshop infrastructure in the city that procures stock from the south and conducts ‘redo’ and ‘refurbishing’,” informed Ahuja.
Market outlook
The company which has 80 per cent of its clientele who are entrepreneurs also counts celebrities and sports personalities among its clients. Big Boy Toyz is clocking a turnover of around Rs 250 crore every year and roughly sells about 480 cars annually. The company is aiming for Rs 500-crore revenues in next 1-2 years, Ahuja said.
He added, “Despite the pandemic, barring the initial months of Covid outbreak, we have managed 35-40 per cent growth in the last financial year. The demand for used cars was on an all-time high. Since the availability of new cars was not there, the used car price, availability and sales saw a surge till the second wave. We closed our operations for a few weeks during the second wave and when we resumed our operations, we returned to 70 per cent levels in June. This month mostly we may touch 100 per cent level.”
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