DaimlerChrysler Unveils Used Car Unit

23 January 2002

DaimlerChrysler is moving into the used car market, having announced plans to establish a new unit to sell second-hand vehicles.

Titled Motormeile, the subsidiary will be based near Munich and launched in March. In addition, it will not restrict itself to selling only brands belonging to DaimlerChrysler.

It is not known how much money the auto giant is committing to the scheme or how many outlets Motormeile will have. Full details are due to be released in the middle of next month.

News source: Handelsblatt (Germany)